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Gold Summary for Jan. 31, 2023

2023-01-31 18:41 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $4.70 to $1,927.60 on Tuesday. The TSX-V gained 8.58 points to 626.17 while the TSX gold index added 0.34 point to 304.57. Most Canadian gold miners moved little today, although Karora Resources Inc. (KRR) did jump 16 cents to $5.25 on 774,000 shares. Newmont Corp. (NGT) went the other way, dipping 19 cents to $70.43 on 190,000 shares. Neither company had news today. Newmont has been silent for a while now, but Karora touted assays from its Beta Hunt mine in Australia last week.

Collin Kettell's New Found Gold Corp. (NFG) rose 13 cents to $5.28 on 107,000 shares. The company cheered the grand opening of its new core shack, a 25,000-square-foot behemoth in Gander that it dubbed its "giga-shack." The size, one presumes, is warranted given that the company has between 12 and 14 drills beavering away on the Queensway project in north-central Newfoundland at any given time as part of a continuing 500,000-metre drill program on the project, but some grumpy investors might also say that the storage size is needed given the slow pace of getting assay results back from the company.

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