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Gold Summary for Oct. 7, 2016

2016-10-07 20:56 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained $2.40 to $1,257.60 on Friday. The TSX Venture Exchange rebounded 14.49 points to 780.80 while the TSX Gold Index rose 1.23 points to 207.20. Most Canadian gold miners traded in a narrow range today after some big swings earlier this week. Torex Gold Resources Inc. (TXG) recovered $1.16 to $23.75 on 1.17 million shares and McEwen Mining Inc. (MUX) added 20 cents to $4.29 on 1.29 million shares. Agnico Eagle Mines Ltd. (AEM) slipped another 59 cents to $59.67 on 1.32 million shares, dipping below $60 at its lowest close since mid-spring.

David Brett's Engold Mines Ltd. (EGM), up one cent to six cents on 135,000 shares, has received assays of 18.54 grams of gold and 37.96 grams of silver per tonne, plus 1.49 per cent copper, over a 3.05-metre interval at the Aurizon structure on its Lac la Hache project in the Cariboo district of British Columbia. The hit occurred more than 100 metres along strike from the company's previous drilling. Those earlier holes, completed between 2008 and 2015, yielded assays of up to 10.36 grams of gold per tonne over 14 metres, accompanied by promotable amounts of silver and copper.

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