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Gold Summary for Nov. 24, 2022

2022-11-24 18:24 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.50 to $1,755.60 on Thursday. The TSX-V climbed 4.57 points to 581.32 while the TSX gold index added 1.05 points to 272.48. Most Canadian gold miners moved little again today, it being American Thanksgiving, but Kinross Gold Corp. (K) was busy, adding 12 cents to $5.71 on 2.41 million shares. So, too, was New Gold Inc. (NGD), which lost one cent to $1.49 on 1.45 million shares.

Yes, both have several hundreds of millions of shares outstanding, and yes, both are trading at a small fraction of their former glory thanks to tribulations at their mines. Elsewhere, with Thanksgiving Thursday preoccupying our American friends and with tomorrow being Black Friday, the latter half of this week is a dreary time to be rolling out new assays or news of any kind.

And yet, several promoters tried their luck. Yesterday, Ken Konkin's Tudor Gold Corp. (TUD) slipped four cents to $1.05 on 133,000 shares on word that it had drilled a deep -- more than a kilometre deep -- 489-metre-thick interval averaging 0.66 gram of gold and 3.6 grams of silver per tonne plus 0.357 per cent copper at Goldstorm, a deposit on its Treaty Creek project in northwestern British Columbia. (Tudor owns 60 per cent of the project, while Darren Blaney's American Creek Resources Ltd. (AMK) and Dino Cremonese's Teuton Resources Corp. (TUO) each hold 20 per cent.)

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