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Gold Summary for Nov. 19, 2020

2020-11-19 18:29 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $4.70 to $1,866.80 on Thursday. The TSX-V added 3.06 points to 729.44 while the TSX gold index lost 2.99 points to 320.82. Agnico Eagle Mines Ltd. (AEM) helped lead the retreat, dropping $1.81 to $88.20 on 2.05 million shares, without assistance from news. Barrick Gold Corp. (ABX) tagged along, falling 43 cents to $31.56 on 9.94 million shares. Centerra Gold Inc. (CG) went the other way, adding 10 cents to $12 on 1.19 million shares.

Timothy Froude's Sokoman Minerals Corp. (SIC) caught the market's eye, adding two cents to 19 cents on 8.63 million shares on word that it has drilled an 8.1-metre interval averaging 68.7 grams of gold per tonne at its Moosehead project in Newfoundland. That interval, encountered at a downhole depth of 111 metres, lies below a 4.6-metre zone that averaged 47.2 grams per tonne. A second hole in the same area, south of the two-year-old discovery hole at Moosehead, returned an upper zone averaging 11.85 grams per tonne over 1.8 metres and a lower zone that yielded 2.94 grams per tonne over 4.3 metres.

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