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Gold Summary for March 1, 2023

2023-03-01 18:42 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $11.30 to $1,838.10 on Wednesday. The TSX Venture Exchange rose 4.14 points to 634.60 while the TSX gold index added 4.97 points to 270.54. Most Canadian gold miners moved higher today, several with vigour. Franco-Nevada Corp. (FNV) jumped $7.77 to $181.94 on 853,000 shares and Torex Gold Resources Inc. (TXG) added $1.10 to $17.90 on 886,000 shares. Not as fortunate was Victoria Gold Corp. (VGCX), which was unchanged at $8.47 on 729,000 shares.

Another brisk gainer was Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG). New Found jumped 53 cents to $5.23 on 617,000 shares on word of another new discovery -- well, sort of -- at its Queensway project in north central Newfoundland. The new find, called Iceberg, is just 300 metres northeast of the Keats Main area and is on strike with it along the prolific Appleton fault zone that hosts most of the company's discoveries so far.

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