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

Gold futures rose, extending the longest rally since November, as the dollar dropped against the euro, boosting the appeal of the precious metal as an alternative asset.

The greenback fell as much as 1.1 percent after a payroll report signaled the U.S. will be slow in recouping jobs lost in the recession. Gold reached a three-week high. The metal has advanced 10 percent this year, climbing to a record $1,266.50 an ounce on June 21.

Like India’s steel giants, China is also showing interest in investing in South Africa’s mining sector.

According to the minister of mines in South Africa, China had shown strong interest in investing in the African nation’s mining sector.

China, Africa’s biggest emerging market partner, has been investing in the continent’s mining and energy sectors.

China is interested in manganese, platinum and uranium. But S Africa is also cautious to see if their investment is going to benefit South Africa. It is critical for the country to ensure its own interest.

Gold futures on the COMEX Division of the New York Mercantile Exchange dropped on Friday as U.S. dollar strengthened, eroding gold’s demand of hedge. Silver and platinum both fell.

The most active gold contract for December delivery slid 6.70 U.S. dollars, or 0.6 percent, to finish at 1,040.40 dollars an ounce.