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Gold Summary for July 31, 2020

2020-07-31 18:22 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold moved higher on Friday, adding $18.90 to $1,976.10. The TSX-V leapt 15.5 points to 721.24 while the TSX gold index added 11.02 points to 397.68. Newmont Corp. (NGT) rose $4.58 to $92.75 on 285,000 shares and Pan American Silver Corp. (PAAS) rose $2.27 to $50.05 on 1.19 million shares.

Scott Perry's Centerra Gold Inc. (CG) added 95 cents to $16.80 on 1.94 million shares on word that it is declaring a five-cent quarterly dividend, up a penny from its previous four-cent rate. Mr. Perry, president and chief executive officer, says that the increase is the result of strong performance and the surging price of gold.

Tony Makuch's Kirkland Lake Gold Ltd. (KL) jumped $4.82 to $73.15 on 2.39 million shares on word of some significant bonanza-grade assays from the Swan zone at its Fosterville gold mine in Victoria, Australia. The assays included hits of up to 976 grams of gold per tonne over a true width of seven metres and 933 grams per tonne over 5.8 metres. These were "higher than expected grades" from infill drilling, the company said, adding that the results "highlight potential to add ounces to existing mineral reserves."

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