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Gold Summary for July 17, 2018

2018-07-17 17:06 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $13.00 to $1,227.20 on Tuesday. The TSX Venture Exchange fell 2.52 points to 713.11 while the TSX Gold Index rose 1.37 points to 189.70. Guyana Goldfields Inc. (GUY) dropped $1.05 to $3.77 on 4.42 million shares Monday on word that it had cut its 2018 production forecast to a maximum of 185,000 ounces from its previous estimate of up to 210,000 ounces. Today, it dipped to $3.52 before ending the day off one cent at $3.76 on 2.41 million shares. McEwen Mining Inc. (MUX) gained five cents to $2.95 on 241,000 shares. The company produced 47,258 equivalent ounces of gold in its second quarter, nearly 3,000 more than it managed in the first quarter.

Jonathan Awde's Gold Standard Ventures Corp. (GSV), up 13 cents to $2.03 on 779,000 shares, has received assays of up to 2.39 grams of gold per tonne over 213.4 metres at the Dark Star deposit on its Railroad-Pinion project in Nevada. The interval included a 41.2-metre zone that averaged 5.79 grams per tonne. The assays are from 19 reverse-circulation holes drilled recently. A second hole produced 2.72 grams per tonne across 137.2 metres and a third yielded 1.09 grams per tonne across 132.6 metres.

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