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Gold Summary for May 29, 2023

2023-05-29 19:25 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $3.30 to $1,942.90 on Monday. The TSX Venture Exchange rose 2.76 points to 606.85 while the TSX gold index dipped 1.09 points to close at 290.93. Most Canadian-listed gold miners stayed close to home as did bullion, with today being Memorial Day in the United States. Oceanagold Corp. (OGC) did add two cents to $2.86 on 835,000 shares today while Novagold Resources Inc. (NG) went the other way, dropping 20 cents to $7.01 on 61,000 shares.

And now for the news -- such as there was. Serafino Iacono's Denarius Metals Corp. (DSLV) jumped seven cents to 49.5 cents on 23,000 shares on word it has drilled a 10.25-metre interval averaging nearly 11 per cent copper equivalent at its Lomero project in southern Spain. The company, named after a silver coin, is touting its grades as copper equivalent, but the bulk of the value in the headline hit came from the 6.82 grams of gold per tonne, not the 0.27 per cent copper that was present. Silver was also a significant contributor, with 161 grams per tonne.

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