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Gold Summary for Sept. 9, 2016

2016-09-09 20:40 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $10.40 to $1,327.80 on Friday. The TSX Venture Exchange lost 13.44 points to 812.16 while the TSX Gold Index slipped 11.07 points to 235.81. Canadian gold miners fell hard today. Agnico Eagle Mines Ltd. (AEM) slumped $4.01 to $66.48 on 1.42 million shares and Detour Gold Corp. (DGC) slid $1.66 to $29.24 on 2.14 million shares.

Janet Lee-Sheriff's Golden Predator Mining Corp. (GPY), up five cents to 99 cents on 516,000 shares, plans drilling this fall at its 3 Aces project in southeastern Yukon. Ms. Lee-Sheriff, chief executive officer, says at least 3,500 metres of reverse-circulation drilling are planned, augmented by 400 metres of large diameter core drilling to test high-grade sections of the gold-bearing veins. There appears to be ample opportunity for the latter work as Golden Predator has discovered 11 new veins since it began work a month ago and five of the veins contained visible gold.

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