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Gold Summary for Feb. 7, 2024

2024-02-07 19:37 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold fell $2.70 to $2,032.70 on Wednesday. The TSX Venture Exchange fell 0.84 point to 547.32 while the TSX gold index dropped 1.84 points to 257.43. (Yes, bullion is strong, but the TSX gold index struggles. Veteran investors will recall it reached 400 points in 2020 and those longer in the tooth may remember the days in 2011 when the index topped 455 points. But that was then.)

Today, Karora Resources Inc. (KRR) was among the few with strength, as it added 14 cents to $4.14 on 663,000 shares. Most of its peers moved lower. Novagold Resources Inc. (NG) was among them as it dropped 17 cents to $3.06 on 1.12 million shares. Argonaut Gold Inc. (AR) and its balky and expensive Magino mine in the making in Ontario lost one cent to 38.5 cents on 2.94 million shares. The stock is near its low of 32.5 cents of late 2022 and far from its $11.08 high set in 2012 -- mainly because of the Magino woes.

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