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Gold Summary for Sept. 25, 2014

2014-09-25 20:44 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold closed up $5.30 to $1,221.90 Thursday, after the prime minister of Iraq warned that ISIS plans to attack subway systems in New York and Paris. Reuters said his comments have yet to be confirmed. Meanwhile, Citi Research said gold, which has been in a downtrend since mid-August, will continue under pressure for the rest of the year. It reduced its average price target by $25 to $1,275, and lowered its 2015 target by $140 to $1,225. In Canada, the TSX Venture Exchange dropped 12.83 points to 911.27, while the TSX Gold Index added 1.65 points to 172.22.

Canada's larger gold mining stocks followed bullion higher. Agnico Eagle Mines Ltd. (AEM) gained 31 cents to $33.43, Goldcorp Inc. (G) rose 34 cents to $26.40, Barrick Gold Corp. (ABX) rose 18 cents to $17.11 and Yamana Gold Inc. (YRI) added four cents to $7.12 on a heavier-than-usual 46 million shares, thanks to a 40-million-share cross by Cormark Securities on Omega ATS.

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