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Gold Summary for Oct. 26, 2021

2021-10-26 19:20 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $13.20 Tuesday, ending the day at $1,795.20. The TSX Venture Exchange fell 5.17 points, closing at 958.76, while the TSX gold index fell 1.39 points to 287.86. Most Canadian gold miners tracked lower with bullion today. Lundin Gold Inc. (LUG) lost 26 cents to $11.57 on 949,000 shares and Kirkland Lake Gold Ltd. (KL) fell 63 cents to $56.30 on 800,000 shares. Oceanagold Corp. (OGC) led a minority of gold miners higher: It ended the day up two cents to $2.34 on 1.31 million shares.

Brian Lock's Scorpio Gold Corp. (SGN) closed unchanged at 10.5 cents on 470,000 shares on word that it has drilled a 5.6-metre interval averaging 50.2 grams of near-surface gold at its Goldwedge project in Nevada. The high-grade hit in the latest underground drill hole included a 0.9-metre bonanza-grade encounter that averaged 260.9 grams per tonne, all within 60 metres of surface. The result is undoubtedly pleasing but was not unexpected to Mr. Lock, chief executive officer, as the test was drilled just seven metres from a 10-year-old hole that returned 56.4 grams of gold per tonne over 3.1 metres, including a 1.5-metre interval averaging 91.6 grams per tonne.

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