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Gold Summary for May 11, 2023

2023-05-11 18:53 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $15.60 to $2,014.20 on Thursday. The TSX Venture Exchange fell 5.12 points to 616.65 while the TSX gold index lost 9.84 points to close at 319.50. Most Canadian gold miners lost ground today -- some retreating in earnest. Lundin Gold Inc. (LUG) was one: It fell $1.58 to $17.46 on 760,000 shares on word it has declared a 10-U.S.-cent dividend after scoring a $15.5-million (U.S.) profit in its first quarter.

If Lundin stumbled on its news, Jody Kuzenko's Torex Gold Resources Inc. (TXG) took a nasty fall, sliding $4.14 to $20.01 on 1.23 million shares on word it earned $68.2-million (U.S.) in its first quarter. Ms. Kuzenko, president and chief executive officer, enthused that Torex was in an excellent position thanks to the first quarter, but she also conceded that the next two quarters "will be closer to the bottom end of the quarterly run-rate implied by full-year guidance."

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