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Gold Summary for Oct. 17, 2019

2019-10-17 19:39 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $1.50 to $1,491.50 on Thursday. The TSX Venture Exchange rose 5.02 points to 544.07 while the TSX Gold Index added 3.31 points to 237.96. Most Canadian gold miners gained ground today. Newmont Goldcorp Corp. (NGT) added 49 cents to $50.30 on 138,000 shares while New Gold Inc. (NGD) added eight cents to $1.31 on 3.97 million shares.

George Faught and Phillip Walford's Marathon Gold Corp. (MOZ) gained six cents to $1.63 on 697,000 shares on word that it has drilled a 29-metre interval averaging 3.99 grams of gold per tonne in the Main zone of its Marathon deposit, which is on the Valentine Lake gold project in Newfoundland. The assays, from several new infill holes into the big deposit, showed "consistent and positive results" according to the company's new president and chief executive officer, Matt Manson, who replaced Mr. Walford, the company's now retired founder, in August.

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