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Gold Summary for July 20, 2020

2020-07-20 17:44 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $7.10 to $1,817.40 on Monday. The TSX-V rose 10.21 points to 685.16 while the TSX gold index added 8.95 points to 375.56. Most Canadian gold miners had a good day, following bullion higher. Yamana Gold Inc. (YRI) jumped 29 cents to $7.86 on 5.27 million shares, aided by word that it plans to add a London Stock Exchange listing. Speaking of listings, Rob McEwen's McEwen Mining Inc. (MUX) could be on its way to saving its New York Stock Exchange listing. McEwen, which needs to get its stock above $1 (U.S.), rallied again today, adding 10 cents to $1.61 on 1.49 million shares. (On the NYSE today, McEwen rose eight U.S. cents to $1.19 (U.S.) on 7.3 million shares.)

Serafino Iacono's Gran Colombia Gold Corp. (GCM) added 41 cents to $6.69 on 943,000 shares on word that it has drilled a 0.95-metre interval averaging 111.79 grams of gold per tonne in the Providencia area of its Segovia project in Colombia. The good news is that the hit occurred at the predicted location, confirming high-grade gold over narrow widths that will be incorporated into the company's mine plan. More drilling will follow, as the mineralization remains open down plunge, says Mr. Iacono, executive chairman.

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