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Gold Summary for May 7, 2020

2020-05-07 18:02 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold leapt $33.90 to $1,718.10 on Thursday. North American markets moved higher today, carrying along their junior sibling: The TSX-V ended the day up 9.40 points to 488.22. The TSX gold index gained ground, adding 8.29 points to 354.70. Oceanagold Corp. (OGC) helped lead the advance. It rose 16 cents to $2.48 on 4.69 million shares, while Kinross Gold Corp. (K), a busy trader, jumped 32 cents to $9.93 on 12.1 million shares.

There were a few laggards among Canadian gold miners. Ewan Downie's Premier Gold Mines Ltd. (PG) lost two cents to $1.60 on 2.35 million shares on word that it has started drilling at McCoy-Cove in Nevada. The drilling will test areas near the high-grade Cove deposit, says Mr. Downie, chief executive officer. At last report, Cove held 948,000 tonnes indicated at 11.21 grams of gold and 29.5 grams of silver per tonne, with 3.66 million tonnes inferred at comparable grades, providing a total of 1.66 million ounces of gold and 3.35 million ounces of silver.

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