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by Stockwatch Business Reporter

New York spot gold rose $28.10 Friday, closing at $2,720.60. The TSX Venture Exchange added 12.77 points to 621.67 while the TSX gold index added 14.72 points to 407.36. The last time the gold index topped 400 points was in the summer of 2020, while its all-time high of 455 points came in 2011. The last time bullion topped $2,700 was, well, never, and it was just $1,500 an ounce when the gold index hit its high. Most Canadian gold miners moved higher today, with some impressive gains without benefit of news, including Iamgold Corp. (IMG), which leapt $1.17 to $8.23 on 9.37 million shares.

Darren Hall's Calibre Mining Corp. (CXB) bucked the trend, losing 11 cents to $2.68 on 19.63 million shares, but it had news driving the decline. The company has trimmed its 2024 production guidance significantly, now expecting to produce between 230,000 and 240,000 ounces, compared with the original forecast of between 275,000 and 300,000 ounces. The company's all-in sustaining costs are now predicted to run about $1,575 (U.S.) per ounce, around $250 (U.S.) per ounce higher than predicted earlier.

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