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Gold Summary for Feb. 5, 2024

2024-02-05 18:32 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $14.80 to $2,024.90 on Monday. The TSX Venture Exchange lost 8.75 points to 548.20 while the TSX gold index fell 4.08 points to 257.98. Most Canadian gold miners lost ground with bullion again today. Iamgold Corp. (IMG) fell seven cents to $3.27 on 1.75 million shares and Novagold Resources Inc. (NG) was along for the ride, as it lost 15 cents to $3.21 on 578,000 shares.

David Wolfin's Avino Silver & Gold Mines Ltd. (ASM) lost one cent to 63 cents on 46,000 shares on word of a prefeasibility study of its Oxide tailings project near Durango in Mexico. The plan is based on a reserve of 6.7 million tonnes averaging 0.47 gram of gold and 55 grams of silver per tonne, a total of 101,000 ounces of gold and 11.8 million ounces of silver. (This is a fraction of the full resource, which lists 55 million tonnes at comparable grades, good for a total of 823,000 ounces of gold and 100 million ounces of silver.)

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