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Gold Summary for May 26, 2023

2023-05-26 18:49 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.20 to $1,946.40 on Friday. The TSX Venture Exchange rose 1.45 points to 604.09 while the TSX gold index added 0.54 point to close at 292.02. Most Canadian-listed gold miners were stronger today. Endeavour Mining PLC (EDV) jumped 71 cents to $33.45 on 1.59 million shares without benefit of news. Torex Gold Resources Inc. (TXG) also did well on silence, adding 50 cents to $20.01 on 557,000 shares. Barrick Gold Corp. (ABX) fell 17 cents to $23.14 on 3.09 million shares.

Daniele Spethmann's retooled gold promotion, Warrior Gold Inc. until it became Kirkland Lake Discoveries Corp. (KLDC: $0.18) three weeks ago, has a significant new shareholder. The company rolled back its stock 1:4 along with the name change -- moves that Ms. Spethmann cheers as having received "near-unanimous support" from shareholders. (In other words, not all were happy with the rollback, as shareholders know all too well that elevating a stock price by consolidating a company's shares just gives the stock more room to fall.)

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