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Gold Summary for May 24, 2023

2023-05-24 19:17 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $4.00 to $1,971.70 on Wednesday. The TSX Venture Exchange dropped 5.28 points to 606.07 while the TSX gold index lost 4.57 points to close at 296.66. Several Canadian-listed gold miners retreated with vigour today. Karora Resources Inc. (KRR) made the list again, dropping another 21 cents to $4.66 on 1.14 million shares. Torex Gold Resources Inc. (TXG) fell 80 cents to $19.88 on 492,000 shares while Ero Copper Corp. (ERO) fell $1.26 to $23.19 on 550,000 shares. Bright spots were few, but Newmont Corp. (NGT) fell just 44 cents to $56.91 on 158,000 shares.

And now for the news. There was plenty of it, just none that moved a stock sharply higher. Daniel Kunz's Prime Mining Corp. (PRYM) fell 12 cents to $2.10 on 212,000 shares on word it has drilled a 12-metre interval averaging 3.33 grams of gold and 221 grams of silver per tonne in the Z-T area of its Los Reyes project in Sinaloa, Mexico. The headline hit came from the Tahonitas area -- the T in Z-T -- while the best from the Zapote South area yielded 0.96 gram of gold and 27.3 grams of silver per tonne over 19.5 metres.

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