Platinum enjoyed a robust week, silver showed a modest gain and gold dropped slightly on the London Fix.

Platinum’s rally was helped along Friday by the launch of two Exchange Traded Notes (ETNs) from investment bank UBS. Although the ETNs do not purchase physical platinum to back their shares, they offer a means for funds to access it. That drew public interest.

London Platinum closed to $2,079 an ounce, which was up $201 compared to its previous Friday close. Silver ended Friday at $16.97 an ounce, or up $.78 over the same period. And finally, gold closed at $876 an ounce and was down by $22 from Friday to Friday.

Outside the London Fix, which closes mid-mornings, gold experienced a small spurt late Friday and a 3% weekly gain for June delivery on the New York Mercantile Exchange. High crude oil, and weakness in the U.S. dollar were factors. But its future is in deeper question by some analysts.

“The large drop, to $869, was seen despite a dollar that continued on the weaker side today, and was partially attributed to crude oil coming off about one dollar from another record high of $126.20 per barrel," said senior analyst Jon Nadler at Kitco Bullion Dealers.

"The counterintuitive move and the metal’s inability to mount a serious rally to at least $900 on a day when oil set new highs and platinum advanced $75 per ounce does raise some valid questions as we go into next week," Nadler continued.

The silver, gold and platinum weekly charts and comparisons from last week are below. The weekly business recap video from Reuters and three related precious metal articles links are included as well.

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