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Gold Summary for May 10, 2023

2023-05-10 18:54 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $3.30 to $2,030.90 on Wednesday. The TSX Venture Exchange rose 1.55 points to 621.77 while the TSX gold index lost 2.42 points to close at 329.34. Kinross Gold Corp. (K), was one of the few movers among Canadian gold miners today. It rose 29 cents to $7.42 on 6.48 million shares on word of a solid first quarter profit and the declaration of a three-U.S.-cent dividend. Karora Resources Inc. (KRR) did not fare as well. It fell 25 cents to $5.33 on 1.21 million shares.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) also lost ground, dropping four cents to $6.46 on 153,000 shares. The company is cheering assays from three new gold zones along the Appleton Fault zone on its Queensway project in north-central Newfoundland. The assays, from another 40-hole batch of tests, included the first-ever results from the Monte Carlo, K2 and Everest zones, along with further assays from Lotto North and Dome.

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