After a volatile day, the benchmark index of the Toronto Stock Exchange advanced slightly to narrowly avoid losses on Friday, marking a fourth consecutive day of gains.

The S&P/TSX composite index finished at 8,303.39, up 21.12 points, or 0.3%. For the week, the benchmark index gained 9.4%, marking its best week so far in 2009.

The materials group rose 1% as gold futures finished higher. Gold for April delivery gained US$6.10, or 0.7%, to end at US$930.10 an ounce on the Comex division of the New York Mercantile Exchange. Despite the gain, the metal ended the week down by 1.5%.

On the TSX, the sub-gold index advanced 0.9%.

Shares of Barrick Gold Corp. increased 2.6% to $37.89 and Goldcorp Inc. jumped $1.36, or 3.7%, to $37.84.

First Quantum Minerals Ltd. gained $1.24, or 3.6%, to finish at $36.09.

Also higher was Kinross Gold Corp., up 2.4% to $20.30, and Inmet Mining Corp., higher by 3.9% to $34.15.

Lower for the day was Potash Corp., down 1.3% to $97.80

Shares of Ivanhoe Mines Ltd. plummeted 14.4% to $5.30 after the company issued a statement indicating that approval on an investment deal with the Mongolian government won’t come before April.

Stocks in the financials group advanced 0.9% on Friday.

Shares of CIBC rose 2.1% to $44.86 and Sun Life Financial Inc. gained 2.5% to $20.46.

Shares of Power Financial Corp. gained 2.2% to $18.30 and Onex Corp.’s stock increased 3.9% to $15.65.

Also higher were shares of IGM Financial Inc., up 3.5% to $29.53.

Others declined, including Fairfax Financial Holdings Ltd., down 2.2% to $309.49, and Laurentian Bank of Canada, off 3.6% to $26.76.

Oil futures retreated Friday as the International Energy Agency and OPEC cut their global demand forecasts due to the economic downturn. Crude for April delivery fell US$0.78, or 1.7%, to end at US$46.25 a barrel on the New York Mercantile Exchange. Despite the losses, crude ended the week up 1.6%.

The energy group dipped lower by 0.8% on Friday.

Shares of Nexen Inc. fell 2.5% to $18.16 and Petro-Canada shares declined 1.4% to $29.51.

Talisman Energy Inc. saw its stock fall 1.5% to $12.79.

Meanwhile, shares of Niko Resources Ltd. advanced $1.45, or 3% to $50.33.

Junior companies also finished the day higher, pushing the S&P/TSX Venture index up 5.55 points, or 0.7%, to 848.97.

The Canadian dollar rose US0.41¢ to close at US78.59¢.

In New York, the main U.S. stock market indexes also finished the day higher, topping off their strongest week in nearly four months.

The Dow Jones industrial average gained 53.92 points, or 0.8%, to end at 7,223.98. For the week, the Dow advanced 9%.

The S&P 500 index rose 5.81 points, or 0.8%, to end at 756.55 on Friday, finishing the week up a sharp 10.7%.

The Nasdaq composite index gained 5.4 points, or 0.4%, to 1,431.5, ending 10.6% above last Friday’s level.

IE