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Gold Summary for May 7, 2024

2024-05-07 18:13 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $8.30 to $2,314.80 on Tuesday. The TSX Venture Exchange rose 3.14 points to 593.24 while the TSX gold index rose 0.40 point to 317.13. Most gold miners listed in Canada moved higher today. Capstone Copper Corp. (CS) was not among them, as it fell 17 cents to $10.38 on 3.49 million shares. Among those gaining ground were Dynacor Group Inc. (DNG), which rose 16 cents to $5.69 on 117,000 shares, and First Majestic Silver Corp. (FR), which added to yesterday's 55-cent gain by adding 23 cents to $9.95 on 1.49 million shares today.

Gilbert Clark's Meridian Mining UK Societas (MNO) lost one-half cent to 48.5 cents on 445,000 shares on word it has drilled a 16-metre interval grading 12.1 grams of gold and 0.6 gram of silver per tonne plus 0.3 per cent copper at its Cabacal mine in Mato Grosso, Brazil. The hit, among a batch of 19 holes with assays today, tested the southern copper zone. That hole was one of those aimed at gold-rich areas within old drilling records, but with incomplete assay data -- areas that therefore were not included in the resource estimate. Further, the highlight hit lies below a mining void, thereby confirming that zones with significant mineralization remain.

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