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Gold Summary for Nov. 28, 2022

2022-11-28 19:24 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $14.20 to $1,741.10 on Monday. The TSX-V dipped 1.13 points to 574.51 while the TSX gold index fell 7.53 points to 261.77. Canadian gold miners stayed close to home, as American Thanksgiving -- or more correctly the shopping days that follow it -- continued to distract investors. Franco-Nevada Corp. (FNV), which has been edging upward from its late September low of $151, lost $4.68 to $188.08 on 671,000 shares today.

Collin Kettell's New Found Gold Corp. (NFG) leapt 82 cents to $5.72 on 557,000 shares on word that it has drilled a 32-metre interval averaging 42.6 grams of gold per tonne at Keats West, on its Queensway project west of Gander in north-central Newfoundland. The lengthy hit was bolstered by a 6.5-metre interval averaging 171.55 grams of gold per tonne, but even so, the remaining 25.5 metres averaged a healthy 9.73 grams per tonne. These are core lengths, mind you, but New Found estimates the true width at between 60 and 70 per cent of the stated lengths.

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