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Gold Summary for July 30, 2021

2021-07-30 18:52 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $14.10 Friday, closing at $1,813.80. The TSX Venture Exchange rose 4.36 points to 925.63 while the TSX gold index added 0.45 point to 308.83. Many Canadian gold miners moved lower today, but there were several gainers. Oceanagold Corp. (OGC) rose 10 cents to $2.43 on 925,000 shares on word that it earned $31.4-million (U.S.) in its second quarter, thanks to the strong performance of its Haile mine in South Carolina.

Eldorado Gold Corp. (ELD) racked up one of the larger declines, losing 61 cents to $11.66 on 1.44 million shares on word that it recorded a $58-million (U.S.) loss in its second quarter. A $100-million (U.S.) impairment charge at the company's Tocantinzinho project in north-central Brazil wiped out any chance of a profit. Eldorado incurred the charge because it is looking to sell the "non-core" asset, which hosts a reserve of 38.9 million tonnes averaging 1.42 grams of gold per tonne, about 1.78 million ounces of gold.

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