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Gold Summary for Oct. 27, 2020

2020-10-27 18:53 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.30 to $1,907.60 on Tuesday. The TSX-V added 6.82 points to 708.10 while the TSX gold index added 4.88 points to 355.38. Barrick Gold Corp. (ABX) was among the gainers today. It added 53 cents to $35.66 on 4.42 million shares on word that it expects to achieve 2020 production guidance at its Loulo-Gounkoto operation in Mali "in the face of multiple challenges" -- not the least of which is the military coup that occurred in August. (Coups d'etat are an unofficial national pastime in Mali: There have been three in the past half century, including one in 2012.)

Darin Labrenz's Pure Gold Mining Inc. (PGM) jumped 23 cents to $2.53 on 3.11 million shares on word that it has intersected a bonanza-grade interval during underground drilling at its Pure Gold mine -- formerly called Madsen -- near Red Lake in Northwestern Ontario. The hit, 296.1 grams of gold across 4.9 metres, was aided by a 1.2-metre interval that returned 1,147.1 grams per tonne. There were other noteworthy results, including 40 grams per tonne over 2.2 metres and 18.7 grams per tonne over 2.8 metres.

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