Platinum, Gold and Silver All Surge in Strong Week for Precious Metals

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"I just think gold is going to explode. There is big fund buying in all months in the futures market" including the December and June contracts, said Jonathan Jossen, independent COMEX floor trader in New York.

Platinum scaled a record peak for the seventh straight trading day on Friday, as persistent supply concerns in top producer South Africa fed worries about a huge market deficit this year.

Other precious metals advanced on bullish market sentiment and a jump of nearly $4 in crude oil prices. Gold rose more than 1 percent toward its historic high of $936.50 an ounce and palladium hitting a six-year peak...

Jonathan Jossen, independent COMEX floor trader in New York, said gold was riding the broad metals rally in spite of initial profit taking ahead of the weekend.

"I just think gold is going to explode. There is big fund buying in all months in the futures market" including the December and June contracts, Jossen said.

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