Gold futures rallied Friday following the very disappointing jobs report, with the COMEX August contract settling higher by $11.00, or 0.7%, at $1,541.60 per ounce.
For the week, gold futures climbed 4.0%, the yellow metal’s best week since November 2009.
COMEX silver futures, per the September contract, finished higher by $0.01 at $36.54 per ounce, as cyclically-sensitive commodities were negatively impacted by the nonfarm payrolls data. For the week, however, silver futures outperformed gold, rising 8.4%.
Copper for September delivery fell $0.03 to $4.41 per pound, but still managed a weekly gain of 2.5%.
October platinum slid $9.60 to $1,733.40, but posted a 1.0% weekly advance.
September palladium dipped $7.60 to $778.95 per ounce, but still rose 2.8% this week.
Aurizon Mines Appoints George Paspalas as CEO
AURIZON MINES (ARZ.TSX, AMEX: AZK) announced that George N. Paspalas has agreed to join the Company as President and CEO and as a member of the Company’s Board of Directors, effective August 15, 2011. David Hall will continue as President and CEO until August 15, 2011 and, following Mr. Paspalas’s appointment, will continue to serve the Company as Chairman of the Board. Full Aurizon Mines Press Release.
- Mr. Paspalas has spent 14 years in senior management positions, most recently as the COO of Silver Standard Resources (SSRI).
- He previously held senior management positions with Placer Dome Inc., including Executive Vice-President and Senior Vice President Projects – Technical Development and as President and CEO of Placer Dome Africa.
- During his career, Mr. Paspalas has been responsible for constructing and operating complex open pit and underground mines in South Africa, Tanzania, Australia, South America and Canada.
