Gold winning streak hits eight sessions in a row; up 4.4% on week

New York (Feb 15)  Gold futures rose today for an eighth session in a row and scored a roughly 4.4 percent gain for the week, fueled by a combination of increased physical demand and economic jitters.

April gold futures rose 1.4 percent to finish at $1,318.60 an ounce on the Comex division of the New York Mercantile Exchange.

U.S. factory production unexpectedly declined in January by the most since May 2009, figures from the Federal Reserve showed.

In other metals, March silver rallied 5 percent to finish at $21.42 an ounce. Prices closed at the highest since early November, up 7.5 percent for the week.

April platinum gained 1 percent to $1,430.10 an ounce, ending 3.7 percent higher than the week-ago close, while March palladium gained 0.9 percent to $737.60 an ounce, up 4.1 percent for the week.

March high-grade copper inched up 0.5 percent to $3.265 a pound, up around 0.6 percent for the week.

(Source:  Proactive Investors - Australia)