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Gold Summary for March 17, 2023

2023-03-17 19:31 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold leapt $55.10 to $1,974.50 Friday, and so while the TSX Venture Exchange added just 2.88 points to 605.08, the TSX gold index soared 15.03 points to 298.22. Most Canadian gold miners moved higher as a result. McEwen Mining Inc. (MUX), $10.83 to start the week, staggered to a $9.79 close yesterday on the heels of its 2022 financials. Today was better, as McEwen leapt $1.16 to $10.95 on 143,000 shares. Franco-Nevada Corp. (FNV) has had a good week. Trading at $180 at last Friday's close, it surged $9.46 to $197.11 on 1.65 million shares to end this week.

David Christie's Orford Mining Corp. (ORM) added two cents to 16 cents on 1.28 million shares on word it has wrapped up its winter drill program at the Joutel Eagle property in the Abitibi district of northwestern Quebec. The company completed 2,535 metres across 14 holes in the program, designed to test the South Gold zone. The drilling began in mid-January, so the assays are still pending -- save of course for partial results received last month from the first three holes.

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