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Gold Summary for May 12, 2023

2023-05-12 18:30 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $3.20 to $2,011.40 on Friday. The TSX Venture Exchange rose 1.19 points to 617.84 while the TSX gold index added 2.12 points to close at 321.62. Most Canadian gold miners were stronger today. McEwen Mining Inc. (MUX) added 32 cents to $10.88 on 43,000 shares, while Argonaut Gold Inc. (AR) rose five cents to 64 cents on 3.2 million shares.

And then there was poor Victoria Gold Corp. (VGCX). Victoria fell to an intraday low of $8.86 before ending the day down 50 cents to $9.47 on 1.76 million shares. The company apparently disappointed the market with its first quarter report, in which it declared a slight profit. John McConnell, president and chief executive officer, applauded what he deemed a "very good start" to the year at the company's Eagle mine in Yukon, adding that the operation achieved record first-quarter production thanks to successfully stacking ore on the heap leach pad during the winter.

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