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Gold Summary for June 2, 2023

2023-06-02 18:54 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $29.10 to $1,948.30 on Friday while the TSX Venture Exchange rose 3.07 points to 609.08. The TSX gold index followed bullion lower, dropping 4.60 points to close at 295.54. Most Canadian gold miners tracked lower with bullion. Few had news -- at least of the kind that moves a stock. Alamos Gold Inc. (AGI) fell 38 cents to $16.51 on 1.91 million shares following its inaugural climate change report -- a "significant milestone in Alamos's sustainability journey."

Alamos is not alone of course, as gold miners are tripping over each other to be next out with a plan to cut carbon dioxide emissions -- applause for "bonanza high-grade veins" being supplanted by cheers for "incredibly low carbon footprints." Lundin Gold Inc. (LUG), down 55 cents to $16.86 on 641,000 shares today, rolled out its own report this week, pledging its "commitment to carbon neutrality by 2030."

Rick Howes's Reunion Gold Corp. (RGD) rose one cent to 46 cents on 1.28 million shares on word it has drilled a 120.7-metre interval averaging 3.13 grams of gold per tonne at its Oko West project in Guyana. The assays, from 34 new holes drilled ahead of a resource estimate, showed several other significant intervals. Reunion also had higher-grade hits to cheer, including a 35.2-metre interval averaging 7.42 grams per tonne within the headline hole.

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