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Gold Summary for Oct. 31, 2017

2017-10-31 18:50 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $5.90 to $1,270.10 on Tuesday. The TSX Venture Exchange gained 0.54 point to 784.70 while the TSX Gold Index dropped 1.29 points to 195.23. A solid third quarter helped Guyana Goldfields Inc. (GUY) lead Canadian gold miners higher. It added 36 cents to $4.60 on 2.09 million shares. Struggling Eldorado Gold Corp. (ELD) resumed its slide, dropping 12 cents to $1.60 on 14.19 million shares.

Harry Barr's New Age Metals Inc. (NAM), up one cent to six cents on 1.36 million shares, has completed its 2017 drill program on the River Valley platinum group metal deposit, east of Sudbury in Northern Ontario. Mr. Barr, chairman and chief executive officer, says the drilling focused on the T3 and Pine zones as a follow-up program to drilling in the two previous years. The company drilled four holes at T3, about one kilometre south of the Pine zone discovery. All four holes hit "significant mineralization," including one that produced 2.45 grams per tonne of palladium, platinum and gold across 28 metres, starting just below the surface. A slightly deeper zone into that hole yielded 4.06 grams per tonne across six metres and a third yielded 3.30 grams per tonne across four metres.

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