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Gold Summary for May 30, 2023

2023-05-30 18:31 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $16.10 to $1,959.10 on Tuesday. The TSX Venture Exchange nevertheless fell 9.89 points to 596.96 while the TSX gold index dipped 2.47 points to close at 288.46. Most Canadian-listed gold miners followed the market, not bullion. New Gold Inc. (NGD) lost five cents to $1.57 on 1.91 million shares despite a three-week silence, while Novagold Resources Inc. (NG) kept it company, dropping 18 cents to $6.83 on 228,000 shares. On the other hand, silence worked for Centerra Gold Inc. (CG), which jumped 47 cents to $7.45 on 2.43 million shares today.

Today was assay day, it seems, and there were several precious metals companies with encouraging new results jockeying for attention. Benoit La Salle's Aya Gold & Silver Inc. (AYA) rose 38 cents to $9.12 on 541,000 shares on word that it has drilled a 27-metre interval averaging 1,611 grams of silver per tonne at its Zgounder project in Morocco. Much of that encouragement, from a hole drilled in the open-pit area, sat within a five-metre stretch that ran 4,771 grams of silver per tonne, but it was hardly a smear job as the other 22 metres still mustered nearly 900 grams per tonne.

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