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Gold Summary for May 12, 2020

2020-05-12 17:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $4.10 to $1,701.30 on Tuesday. The TSX-V rose another 5.51 points to 500.71 while the TSX gold index added 0.40 point to 343.62. Alacer Gold Corp. (ASR), one of the latest Canadian gold miners to come down with takeover fever, added 43 cents to $8.30 on 5.7 million shares. Kirkland Lake Gold Inc. (KL) went the other way, dropping $1.77 to $55.77 on 2.62 million shares.

James Withall's Rupert Resources Ltd. (RUP) had a good day. It leapt 39 cents to $1.26 on 789,000 shares on word that it has drilled a 137-metre near-surface zone averaging 1.8 grams of gold per tonne from the Ikkari target at its Pahtavaara project in Finland. That hit, from one of the first two new holes, included a 14-metre interval that averaged 7.1 grams per tonne. The second hole, 100 metres along strike from the first, returned 1.5 grams of gold per tonne over 54 metres, with a two-metre interval averaging 5.2 grams per tonne.

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