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Gold Summary for Oct. 16, 2020

2020-10-16 17:47 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $9.90 to $1,899.70 on Friday. The TSX-V fell 2.07 points to 725.31, while the TSX gold index lost 5.07 points to 364.79. Orosur Mining Inc. (OMI), a three-center earlier this year, rose to a new high of 68 cents before ending the day up five cents to 56 cents on 4.37 million shares, as investors look for a way to leverage the company's minority-but-essentially-carried interest in the Anza project in Colombia.

Karl Hanneman's International Tower Hill Mines Ltd. (ITH) gained five cents to $1.87 on 25,000 shares on word that it has sold 7.33 million shares through an at-the-market offering. The sale raised $10.3-million (U.S.) at an average of $1.40 (U.S.) per share -- a perch that Tower Hill's stock had obligingly sat upon for the past two months. International Tower traded for less than 50 cents in March, but it worked its way above $3 in early July, as enthusiasm built for its Livengood gold project in central Alaska.

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