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Gold Summary for Nov. 8, 2019

2019-11-08 17:55 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $9.60 to $1,458.80 on Friday. The TSX Venture Exchange rose 3.17 points to 536.97 while the TSX Gold Index dipped 0.65 point to 234.01. Oceanagold Corp. (OGC) was strong, adding 13 cents to $2.97 on 4.64 million shares despite bullion's decline. Agnico Eagle Mines Ltd. (AEM) was among the decliners. It dropped 75 cents to $76.28 on 1.73 million shares.

Benoit Desormeaux and John LeBoutillier's Semafo Inc. (SMF), $4.21 on Monday but just $3.24 on Thursday, dropped again today, ending the day down 16 cents to $3.16 on 5.59 million shares. The slump began early in the week when Semafo revealed its third quarter financials. It deepened Wednesday with word that a gang of thugs ambushed a company convoy headed to its Boungou mine in Burkina Faso, leaving at least 38 dead, more than 60 injured and dozens more "believed to be unaccounted for," according to reports. (Being missing in the Dark Continent is usually a terminal condition.) The convoy of five buses -- that a group of employees, contractors and suppliers need to travel by convoy on a public road is revealing enough -- was purportedly protected by a Burkina Faso military escort.

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