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Gold Summary for Aug. 8, 2024

2024-08-08 18:31 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold jumped $40.30 Thursday, closing at $2,423.50. The TSX Venture Exchange added 7.86 points to 541.59 while the TSX gold index rose 7.28 points to 338.58. Most Canadian gold miners moved higher with bullion. SSR Mining Inc. (SSRM) helped lead the way, adding 24 cents to $6.20 on 869,000 shares. It was not all kazoos and party hats today, as Pan American Silver Corp. (PAAS) fell $1.26 to $25.50 on 2.87 million shares on word of a $21-million (U.S.) loss in its second quarter. The company nevertheless maintained its 10-cent dividend.

On the other hand, Gerard Bond's Oceanagold Corp. (OGC) had a good day on news, adding 28 cents to $3.28 on 4.69 million shares. The company has extended the known mineralization by 200 metres at its high-grade -- limber up your tongue here -- Wharekirauponga deposit, just 10 kilometres from its Waihi operation in New Zealand. The latest assays include a 34.5-gram-per-tonne intercept across a true width of 3.8 metres in an extension hole and 9.9 grams per tonne over 20.3 metres in a conversion hole.

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