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Gold Summary for Oct. 28, 2020

2020-10-28 18:49 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold slid $31.10 to $1,876.50 on Wednesday. The TSX-V tagged along with gusto, slumping 30.17 points to 677.93 while the TSX gold index dropped 17.90 points to 337.48. Investors looking for a ray of sunshine in today's storm will have to be content with Barrick Gold Corp. (ABX), which fell "just" $1.20 to $34.46 on 14.32 million shares.

As for the losers, there were many. Oceanagold Corp. (OGC) took a beating, dropping 16 cents to $1.85 on 6.49 million shares. So did Pan American Silver Corp. (PAAS), which fell $3.55 to $40.40 on 769,000 shares. Pan American has been silent for the past few weeks, while Oceanagold had recently closed its $150-million placement at $2.06.

Gerald Panneton and David Suda's Gold Terra Resource Corp. (YGT), down one cent to 35.5 cents on 783,000 shares, has received assays of up to 6.81 grams of gold per tonne over 1.4 metres from the first four holes drilled this year into the Crestaurum deposit, a part of its sprawling Yellowknife City gold project just north of Yellowknife in the Northwest Territories. That intersection occurred within a 2.83-metre interval that averaged 3.45 grams per tonne, and while the three other widely-spaced holes produced gold, the intervals were shorter, or the grades were lower -- and usually both.

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