mineral exploration project – commodity prices – mining stock- trade and market

Stock market developments during the week focus on increasing sales of gold mining company stock. Stock of mining companies increased to reach record highs, but the dollar weakened. Gold miners in South Africa reported an increase in reserves of mineral resources which ends June 30. Increase supply of mineral resources rose to 271.1 million ounces versus 250.6 million ounces from the previous year.

Nickel futures prices traded downwards in line with subdued overseas trend on concerns over demand.

At the MCX, nickel for far month December delivery contract fell by 2.98% at Rs 831.60 per kg with turnover in 6 lot. It opened at Rs 842.90 per kg as compared to its previous close of Rs 857.10 per kg.

European stocks were lower Friday, with investors adopting a cautious stance and booking profits ahead of the pivotal U.S. employment report after disappointing economic data Thursday dented investors’ appetite for risk.