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Gold Summary for March 25, 2020

2020-03-25 17:36 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $23.10 to $1,612.90 on Wednesday. Markets rebounded again today, gaining a bit more altitude above Monday's lows. The TSX Venture Exchange rose as well, adding 14.92 points to end the day at 395.67 points.

The TSX gold index, which managed to regain most of the 95 points it lost over the previous month in a strong rally this week, gained a bit more ground today, adding 0.18 point to 261.24 points. Franco-Nevada Corp. (FNV) resisted the rally, dropping $3.28 to $157.63 on 1.55 million shares. Another was Barrick Gold Corp. (ABX). It lost $1.08 to $27.30 on 15.2 million shares after news Tuesday that it would "ramp down" its mines in Quebec and Nunavut. There were plenty of gainers. Eldorado Gold Corp. (ELD) was one: It added 97 cents to $10.19 on 3.39 million shares.

Akiba Leisman's Mako Mining Corp. (MKO), unchanged at 33.5 cents on 1.51 million shares, has "positive drill results" from the Bayacun zone in the Las Conchitas area of its San Albino-Murra project in Nicaragua. The assays, from another six holes into Bayacun, ranged as high as 84.64 grams of gold and 80.2 grams of silver per tonne over 1.6 metres, occurring within 80 metres of surface. Four other holes produced high-grade hits, including 25.78 grams of gold and 18.3 grams of silver per tonne over 3.85 metres, within 45 metres of surface.

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