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Gold Summary for Feb. 14, 2024

2024-02-14 18:00 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $2.20 to $1,990.50 on Wednesday. The TSX Venture Exchange rebounded 11.03 points to 548.23 while the TSX gold index added 0.28 point to 244.24, still about as low as it has been since the fall of 2022, when an ounce of gold fetched barely $1,600 per ounce. Several gold miners lost ground today. SSR Mining Inc. (SSRM) lost six cents to $6.02 on 7.49 million shares in the continuing fallout following word of a major slip at the heap leach pad of the Copler mine in Turkey, where nine workers remain missing.

Paul Tomory's Centerra Gold Inc. (CG) had a good day, adding 44 cents to $6.58 on 1.97 million shares on an updated reserve and resource estimate -- and an extension for its Mount Milligan mine in British Columbia. The company now has a reserve of 275.3 million tonnes grading 0.41 gram of gold per tonne, about 3.64 million ounces, compared with 358.4 million tonnes grading 0.46 gram per tonne, about 5.45 million ounces, a year earlier.

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