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Gold Summary for Jan. 23, 2023

2023-01-23 19:01 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $4.30 to $1,930.60 on Monday. The TSX-V lost 1.84 points to 621.97 while the TSX gold dipped 0.05 point to 308.00. Most Canadian gold miners moved lower today, with Endeavour Mining PLC (EDV) falling $1.50 to $31.52 on 2.33 million shares.

Endeavour said today that it produced 1.4 million ounces of gold last year, slightly lower than the 1.44 million ounces it managed in 2021. This was at the top end of its guidance for the year -- its 10th consecutive year of hitting or beating its forecast. For those betting on an 11th year, Endeavour predicts it will produce between 1.32 million and 1.43 million ounces in 2023.

Brad Langille's GoGold Resources Inc. (GGD) rose three cents to $2.52 on 982,000 shares on word it has drilled a 55-metre interval averaging 7.8 grams of gold and 2,153 grams of silver per tonne -- 2,738 grams of silver equivalent per tonne -- within the Eagle deposit at Los Ricos South in Jalisco, Mexico. The upper portion of the hit averaged 5,870 grams of silver equivalent per tonne over 25 metres, aided by a three-metre stretch that contained 46,100 equivalent grams per tonne.

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