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Gold Summary for March 7, 2023

2023-03-07 18:43 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $32.20 to $1,814.30 Tuesday as the TSX Venture Exchange fell 10.95 points to 626.81 and the TSX gold index lost 8.72 points to 261.94. Canadian gold miners moved lower today and one of the bigger gainers of late led the Tuesday retreat: McEwen Mining Inc., a $7.75 stock in mid-February but worth $10.10 yesterday, lost 81 cents to $9.17 on 82,000 shares today. Centerra Gold Inc. (CG) kept it company, dropping 46 cents to $8.12 on 2.64 million shares.

Ari Sussman's Collective Mining Ltd. (CNL) slid 66 cents to $4 on 1.04 million shares on word it has drilled a 55.25-metre interval averaging 1.75 grams of gold and 11 grams of silver per tonne at the Olympus target on its Guayabales project in Colombia. The hit came from one of three reconnaissance holes drilled from underground into the target. The first hit nothing of interest and the best that the third could muster was a 17.45-metre zone averaging 0.64 gram of gold and nine grams of silver per tonne.

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