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Gold Summary for May 5, 2023

2023-05-05 19:18 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $29.90 to $2,020.40 on Friday. The TSX Venture Exchange added 8.10 points to 615.40 while the TSX gold index slumped 6.40 points to close at 333.11. Many Canadian gold miners followed bullion lower today. Newmont Corp. (NGT) fell $1.59 to $65.24 on 190,000 shares while Endeavour Mining PLC (EDV) lost 91 cents to $35.04 on 1.01 million shares. There were a few bright lights -- Ero Copper Corp. (ERO) did gain 77 cents to $27.55 on 565,000 shares -- but the company is more a copper producer than a gold miner.

Steven Dean's Artemis Gold Inc. (ARTG) added four cents to $4.98 on 603,000 shares. Artemis leapt 28 cents to $4.94 on 492,000 shares Thursday following word it has begun a gold hedge program for its Blackwater mine, southwest of Prince George in central British Columbia. The company is selling forward 100,000 ounces of gold, with deliveries between March of 2025 and December of 2027 at a weighted average price of $2,836 per ounce.

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