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Gold Summary for May 6, 2020

2020-05-06 17:48 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $20.30 to $1,685.80 on Wednesday. North American markets appeared undecided today, with the TSX-V moving lower, ending the day down 1.65 points to 478.82. The TSX gold index followed bullion lower, dropping 10.00 points to 346.41.

Torex Gold Resources Inc. (TXG) helped lead the retreat. It fell $1.24 to $19.15 on 955,000 shares. Premier Gold Mines Ltd. (PG), which reported a $12-million (U.S.) first quarter loss today, provided company. It fell nine cents to $1.62 on 1.91 million shares. Alacer Gold Corp. (ASR) had cause to break out the hats and horns today: It added 18 cents to $7.61 on 2.61 million shares on a good review from an RBC Dominion Securities analyst, Mark Mihaljevic.

Kristina Walcott's Freegold Ventures Ltd. (FVL) surged to an intraday high of 37 cents before ending the day up nine cents to 17 cents on 37.1 million shares. The surge followed word that Freegold has hit a 257.4-metre interval averaging 2.94 grams of gold per tonne in the first hole drilled this year at its Golden Summit project near Fairbanks in central Alaska. The hit included a 20-metre interval at the bottom of the hole that averaged 9.87 grams per tonne, leaving the mineralization open at depth. A second hole returned little excitement, but it was suspended because of COVID-19 concerns well before it reached the target depth.

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