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Gold Summary for May 23, 2023

2023-05-24 18:55 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $1.30 to $1,970.50 on Tuesday. The TSX Venture Exchange dropped 1.44 points to 611.35 while the TSX gold index lost 4.54 points to close at 301.23. Karora Resources Inc. (KRR), a solid gainer Friday, dropped 34 cents to $4.87 on 1.42 million shares today. It had company, as Newmont Corp. (NGT) fell $1.61 to $57.35 on 214,000 shares and Franco-Nevada Corp. (FNV) fell $3.18 to $203.62 on 739,000 shares. Among the few northbound today was New Found Gold Corp. (NFG), which added one cent to $5.91 on 141,000 shares.

And then there were those explorers with news. Charles Funk's Heliostar Metals Ltd. (HSTR) did not stray far from home but it was a busy trader, dipping two cents to 47 cents on 2.64 million shares on new assays from its Ana Paula project in Guerrero, Mexico. The results are from the first two holes of the current program, and both delivered strong results. The second hole was the better -- barely so -- with a 101.12-metre near-surface interval averaging 8.35 grams per tonne, aided by a 53.2-metre portion grading 11 grams per tonne.

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