NEW YORK (TheStreet) -- Spot gold prices were barely advancing Friday afternoon as investors awaited more dollar-related news out of the G-20 meeting of finance ministers and central bank governors in South Korea this weekend.

However, gold analysts such as Gold and Energy Advisor's James DiGeorgia cautioned against focusing too much on dollar directional clarity. "It would be nice if the dollar was the major influence of the price of gold and oil because it would make our job easier, but it's more complicated than that," DiGeorgia said in a newsletter to investors, citing other major gold influences such as supply and demand, the average cost to produce an ounce of gold, global inflation trends and perceptions, geopolitical tensions and events, and investor and speculative demand.

DiGeorgia noted that the gold bull market began in the early 2000s and is currently in a period of consolidation.

New York spot gold prices were up by 50 cents, or 0.04%, to $1,327.20 an ounce Friday afternoon.
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New York spot silver prices were up by 8 cents, or 0.4%, to $23.26.
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New York spot platinum prices were unchanged at $1,678 an ounce, while its sister metal was inching higher.



New York spot palladium prices were up by $2, or 0.3%, to $593 an ounce.

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A group of mining stocks and precious metals ETFs were trading in mixed territory Friday afternoon. Mining stocks offer another form of exposure to precious metals.

Freeport-McMoRan Copper & Gold ( FCX - Get Report) was falling by 2.8% to $93.78, while Hecla Mining ( HL - Get Report) was rising by 1.4% to $6.68. Pan American Silver ( PAAS - Get Report) was higher by 2.4% to $30.51 and Silver Wheaton ( SLW) was up 1.7% to $26.17.

Stillwater Mining ( SWC) was advancing by 1.8% to $16.13 and SPDR Gold Trust ETF ( GLD - Get Report) was up by 0.2% to $129.68.

-- Written by Andrea Tse in New York.

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