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Gold Summary for May 25, 2023

2023-05-25 18:52 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $17.10 to $1,940.40 on Thursday. The TSX Venture Exchange dropped 3.43 points to 602.64 while the TSX gold index lost 5.18 points to close at 291.48. Most Canadian-listed gold miners retreated today, some more so than others. New Gold Inc. (NGD) was one of them despite a two-week silence, as it fell 10 cents to $1.56 on 2.34 million shares. Another was Iamgold Corp. (IMG), which dropped 22 cents to $3.60 on 1.07 million shares despite a one-week silence. Newmont Corp. (NGT) kept them company, falling $1.54 to $55.37 on 328,000 shares. Newmont did have news -- if publication of a 2022 climate report qualifies as news.

Dan Noone's G2 Goldfields Inc. (GTWO) was one of the gold explorers with real news today. G2 added three cents to 80 cents on 138,000 shares on word it has drilled a 27-metre interval averaging 6.5 grams of gold per tonne at Ghanie Central on its Oko project in Guyana. A 6.6-metre subinterval averaging 24.7 grams per tonne provided most of the gold, as the other 20.4 metres averaged just 0.61 gram per tonne.

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