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Gold Summary for Feb. 13, 2024

2024-02-13 18:13 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $27.20 to $1,992.30 on Tuesday. The TSX Venture Exchange tagged along with an 11.72-point decline to 537.20 while the TSX gold index lost 10.80 points to 243.96. Canadian gold miners took it on the chin: Centerra Gold Inc. (CG) slid 69 cents to $6.14 on 2.68 million shares and Sandstorm Gold Ltd. (SSL) lost 55 cents to $5.47 on 3.23 million shares. Today's winners were those with the smallest losses, including New Gold Inc. (NGD) which dropped just six cents to $1.61 on 3.24 million shares.

And then there was Rod Antal's SSR Mining Inc. (SSRM). Early this morning the company applauded a "comprehensive and positive business update" with multiyear guidance for its producing mines. Comprehensive it was, but positivity is in the eye of the beholder, as the forecasts fall short of 2023 production until 2027. (The company produced 707,000 gold equivalent ounces last year but expects between 540,000 and 600,000 ounces for the following three years.)

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