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Gold Summary for Sept. 12, 2023

2023-09-12 19:23 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $9.20 to $1,912.60 on Tuesday. The TSX Venture Exchange fell 4.08 points to 576.79 while the TSX gold index rose 0.02 point to 270.66. With bullion in retreat, many Canadian gold miners tagged along. Agnico Eagle Mines Ltd. (AEM) fell 25 cents to $64.99 on 2.25 million shares and China Gold International Resources Corp. (CGG) dropped 15 cents to $5.79 on 13,000 shares. Centerra Gold Inc. (CG) was among those northbound today, as it added 10 cents to $7.80 on 434,000 shares.

Shane Williams's West Red Lake Gold Mines Ltd. (WRLG) did well, getting to 62 cents before closing up 3.5 cents to 52.5 cents on 2.9 million shares. The gain followed word the company has drilled an 8.3-metre interval averaging 70.8 grams of gold per tonne at its Rowan property, near Red Lake in Northwestern Ontario. Nearly all the gold sat in a 0.5-metre stretch that averaged 1,120.2 grams per tonne, leaving the other 7.8 metres with a ho-hum 3.5 grams per tonne.

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