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To maximize asset growth through the successful acquisition, exploration, development and production of selective gold and base metal properties. Placer Mining Corp to implement Eco-Safe green extraction methods to recover gold, silver and platinum values from the gravels located on Placer Mining Corp’s properties. Water and gravity will be the main separation methods used for gold extraction and non-toxic leach technology will be used in the black sands processing plants.

Gold up on safe-haven buying, dollar weakness

By This e-mail address is being protected from spambots. You need JavaScript enabled to view it and This e-mail address is being protected from spambots. You need JavaScript enabled to view it , MarketWatch

SAN FRANCISCO (MarketWatch) — Gold futures inched higher Friday, leaving behind early-session losses as a lower dollar and safe-haven buying ahead of the weekend supported prices.

The early price weakness was met with buying interest that quickly pushed prices higher, a good sign for gold’s short-term gain prospects, analysts said.

Never mind the 'January Indicator'

What's known as the "January indicator" says a positive month often yields gains for the year. But the indicator isn't what it's cracked up to be, according to MarketWatch's Mark Hulbert.

Gold for February delivery GC2G +0.41% rose $6, or 0.4%, to $1,732.70 an ounce on the Comex division of the New York Mercantile Exchange after tapping a low of $1,714.20 earlier.

A close in the black would be gold’s third straight session of gains.

Gold surged more than 3.6% in the past two days, and on Thursday settled at its highest in seven weeks.

The metal has enjoyed strong recent gains spurred by the Federal Reserve’s projection of ultra-low interest rates through 2014.

Gold prices have risen nearly 10% so far this month.

“Gold looks great in the charts and a lot of people are taking it as a sign to buy gold,” said Adam Klopfenstein, a market strategist with Archer Financial Services in Chicago.

Ahead of the weekend and potential for headlines out of Greece and the euro zone, some are also adding gold to their portfolio as a safe haven, he added. A lower dollar also helped push prices higher, Klopfenstein said.

The Wednesday Fed decision “awakened the positive gold sentiment” that had been underneath the surface but cloaked in caution after the selloff in fourth quarter, said Jeffrey Wright, a senior research analyst with Global Hunter Securities.

“Inflation is in the market; (it is ) just being under-reported in my opinion,” he said. In addition, the “miss” on fourth-quarter gross domestic product will give the Fed an “additional cover” to continue its “easing” stance and will also contribute to gold going higher, he added in emailed comments.

Earlier Friday, investors parsed out news U.S. GDP expanded 2.8% in the fourth quarter, compared to expectations of a rise around 3%.

Other metals more linked to industrial uses, and therefore more sensitive to the GDP news, felt the pressure on Friday, but silver turned higher.

March copper HG2H -0.24% declined 1 cent, or 0.4%, to $3.89 a pound. Silver for delivery in the same month SI2H -0.04% rose 5 cents, or 0.1%, to $33.79 an ounce.

April platinum futures PL2J +0.49% gained $4.80, or 0.3%, to trade at $1,621.60 an ounce, while March palladium PA2H -0.57% lost $4.45, or 0.6%, to $690 an ounce.

Claudia Assis is a San Francisco-based reporter for MarketWatch. Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Myra Saefong in San Francisco contributed to this report.

Placer Mining Corp is a US-based Exploration and Mining Company with development and exploration projects located in the Western United States. Since commencing exploration in 2005, Placer Mining Corp has enjoyed very high success in acquiring 60 mining projects in Quartzsite Arizona. The company is privately funded and has recently signed several joint venture contracts to develop various projects that have demonstrated high gold values.