10:37:46 EDT Thu 28 Mar 2024
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Gold Summary for Jan. 10, 2023

2023-01-10 19:35 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.60 to $1,877.10 on Tuesday. The TSX-V added 7.57 points to 594.25 while the TSX gold index gained 6.41 points to 304.89. Most Canadian gold miners gained altitude today, with Lundin Gold Corp. (LUG) adding 74 cents to $14.89 on 666,000 shares. Today was another banner day for assays, as gold explorers made up for the dearth of results revealed over the holiday break. Some, however, might have preferred sneaking their results to investors during the quiet period.

One of the latter was Collin Kettell's New Found Gold Corp. (NFG), which lost six cents to $5.34 on 198,000 shares on word of assays from another 48 holes drilled at its Queensway project, west of Gander in north-central Newfoundland. Gone, apparently, are the days of regular three-digit grades over two-digit intervals, as the best of New Found's results was a 5.3-metre hit at Lotto North that averaged 16.12 grams of gold per tonne. Most of the gold lay within a 1.55-metre stretch that ran 49.63 grams per tonne, leaving the other 3.75 metres with just 2.21 grams per tonne.

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