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Gold Summary for April 3, 2020

2020-04-03 17:29 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold added $10.80 to $1,621.10 on Friday. North American markets lost ground today but avoided the wild extremes of the past month. The TSX Venture Exchange slipped 2.22 points to 383.94 while the TSX gold index dipped 0.94 point to 253.90. Kirkland Lake Gold Ltd.(KL) had a good day, gaining $2 to $46.76 on 2.34 million shares. It was also up yesterday, gaining $3.24 on 2.87 million shares despite word that it suspended mining at Holt and reduced operations at Macassa, two Northern Ontario mines.

The list of Canadian gold miners and explorers suspending work grew again today, but one went the other way. Renaud Adams and Ian Pierce's New Gold Inc. (NGD) lost two cents to 78 cents on 3.16 million shares on word that it has restarted work at its Rainy River mine in Northwestern Ontario following a mandated two-week suspension related to out-of-country travel. (Most of the Rainy River miners live in or near Fort Frances, on the United States border, and until early March, they thought nothing of hopping into Minnesota to buy goods. That was before COVID-19 prompted governments on both sides of the border to suspend all but essential travel and enforce mandatory quarantines for those returning home.)

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