09:59:11 EDT Thu 28 Mar 2024
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Gold Summary for July 6, 2017

2017-07-06 20:38 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $1.70 to $1,225.00 on Thursday. The TSX Venture Exchange lost 2.97 points to 759.93 while the TSX Gold Index dipped 3.08 points to 190.07. Canadian gold miners lost ground today. Richmont Mines Inc. (RIC) lost 17 cents to $9.06 on 584,000 shares and Barrick Gold Corp. (ABX), dipped 33 cents to $20.24 on 5.09 million shares.

Ron Clayton's Tahoe Resources Inc. (THO) plummeted $3.57 to $7.19 on 17.71 million shares on word that its licence for the Escobal silver mine in Guatemala has been suspended. The supreme court of Guatemala has suspended the licence while it considers the case against Guatemala's Ministry of Energy and Mines brought by CALAS, an anti-mining group. The group alleges that the government violated the indigenous rights of consultation of the Xinca people prior to the ministry's awarding of the Escobal licence to Tahoe. The court agreed with CALAS that the licence should be suspended until the case is fully heard, although Tahoe points out that there is no Xinca representative participating in the lawsuit against the government.

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