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Gold Summary for Feb. 5, 2015

2015-02-05 21:02 ET - Market Summary

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by Stockwatch Business Reporter

New York gold closed down $4.40 to $1,264.50 Thursday, falling ahead of Friday's United States jobs report. Denmark's central bank has cut its interest rate to negative 0.75 per cent, down from negative 0.5 per cent, as it tries to keep the krone stable against the euro. Denmark, Switzerland and Germany are charging depositors to hold cash. Here in Canada, the TSX Venture Exchange gained 7.26 points to 693.93, while the TSX Gold Index slipped a fraction to 191.72.

Major Canadian gold miners ended the day inconsistently. Goldcorp Inc. (G) rose 12 cents to $30.47, Barrick Gold Corp. (ABX) rose two cents to $16.24, Detour Gold Corp. (DGC) lost 28 cents to $12.63 and Iamgold Corp. (IMG) lost seven cents to $3.29.

Ian Atkinson's Centerra Gold Inc. (CG) rose 20 cents to $7.69, hitting a two-year high on 2.33 million shares. The company has offered $300-million in cash for half of Ewan Downie's Premier Gold Mines Ltd.'s (PG: $2.30) Trans-Canada gold project in Ontario. Trans-Canada includes the 7.6-million-ounce Hardrock gold deposit, where a mine would cost around $410-million to build. The joint venturers' first task will be completing a Hardrock feasibility study.

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