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Gold Summary for Nov. 29, 2022

2022-11-29 18:14 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold regained $8.20 to $1,749.30 on Tuesday. The TSX-V rose 4.41 points to 578.92 while the TSX gold index added 8.76 points to 270.53. Many Canadian gold miners leapt enthusiastically. New Found Gold Corp. (NFG), up 82 cents Monday on its best assay in months from Queensway in Newfoundland, added another 36 cents to $6.02 on 394,000 shares today. This is the highest the stock has been since late June.

John McCluskey's Alamos Gold Inc. (AGI) rose 46 cents to $12.91 on 1.84 million shares on word of a bonanza-grade gold hit at its Island mine, north of Wawa in Northern Ontario. The headline hit yielded 525.28 grams of gold per tonne over a true width of 2.33 metres, one of several rich hits in the B-zone area. A second produced 226.16 grams per tonne over 2.58 metres while a third managed 91.14 grams per tonne over 2.61 metres. Those hits were all at Island West, within newly-defined zones in the hangingwall.

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