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Gold Summary for June 7, 2019

2019-06-07 18:29 ET - Market Summary

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by Stockwatch Business Reporter

New York spot rose $5.40 to $1,340.20 on Friday. The TSX Venture Exchange added 1.34 points to 596.54 while the TSX Gold Index lost 1.73 points to 199.42. Alacer Gold Corp. (ASR) led Canadian gold miners lower today, dropping 15 cents to $3.92 on 1.03 million shares despite some favourable comments from gold analysts. (Analysts are like weather forecasters. They are never wrong for long if they amend their predictions fast enough.)

John Burzynski's Osisko Mining Inc. (OSK), up 20 cents to $3.24 on 1.36 million shares, has a new gold find on its Urban Barry project, six kilometres west of its Windfall Lake gold deposit in northwestern Quebec. The new zone, dubbed Fox West, has just produced assays of 16.7 grams of gold per tonne over 2.8 metres, aided by a one-metre interval at 45 grams per tonne. As the name suggests, Fox West is two kilometres southwest of the 2016 Fox discovery, which produced up to 27.6 grams of gold per tonne over 3.1 metres and 3.22 grams per tonne over 11.6 metres previously.

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