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Gold Summary for Oct. 21, 2016

2016-10-21 20:40 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold gained 50 cents, closing at $1,265.70 on Friday. The TSX Venture Exchange gained 4.59 points to 790.57 while the TSX Gold Index rose 0.62 point to 224.07. Most Canadian gold miners moved little today. Richmont Mines Inc. (RIC) gained 15 cents to $12.78 on 514,000 shares while McEwen Mining Inc. (MUX) lost eight cents to $4.68 on 923,000 shares.

Negar Adam's Makena Resources Inc. (MKN), up one-half cent to two cents on 4.32 million shares, has wrapped up its drill program at Clone, a gold prospect just southeast of Stewart in northwestern British Columbia. The company drilled seven holes to depths ranging from 40 to 140 metres in the modest program. Ms. Adam, president, says she is "very optimistic" and "eagerly anticipating" the assays from her company's program, as Makena has had success at Clone in the past and she hopes to "duplicate this past success at this time."

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