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Gold Summary for May 10, 2021

2021-05-10 19:05 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $6.10 Monday, closing at $1,836.80. The TSX Venture Exchange slid 14.64 points to 940.34 while the TSX gold index dipped 1.85 points to 314.65. There was nothing new at New Found Gold Corp. (NFG) to start the week, save for new-found enthusiasm for the bonanza-grade assays obtained from its Queensway project in Newfoundland over the past few weeks. The company's stock added 75 cents to $9.20 on 991,000 shares today, setting a new high. Moving the other way was Endeavour Mining Corp. (EDV). It fell 47 cents to $26.21 on 861,000 shares.

Joseph Hebert's Outcrop Gold Corp. (OCG) leapt to an intraday high of 37 cents, ending the day up 6.5 cents to 36.5 cents on 3.14 million shares. The rally followed word that it has drilled a 0.7-metre interval averaging 29.1 grams of gold and 5,763 grams of silver per tonne, plus modest amounts of lead and zinc, at La Ivana on its Santa Ana project in Colombia. The narrow bonanza-grade hit came from one of five new holes completed at the project. Two others yielded noteworthy grades, one of which produced 18.3 grams of gold and 1,354 grams of silver per tonne over one metre.

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