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Gold Summary for Feb. 20, 2024

2024-02-20 18:41 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $6.30 to $2,023.70 on Tuesday. The TSX Venture Exchange fell 5.14 points to 551.62 while the TSX gold index added 1.15 points to 252.72. Most Canadian gold miners moved upward today. Eldorado Gold Corp. (ELD) was strong, adding 50 cents to $15.27 on 920,000 shares, and so was China Gold International Resources Corp. (CGG), which rose 40 cents to $6.04 on 51,000 shares.

Not so fortunate were two gold miners with recent woes. SSR Mining Inc. (SSRM) lost 36 cents to $6.24 on 1.95 million shares on word the search for nine missing miners at its Copler mine in Turkey has been called off. Mining has been suspended indefinitely and several employees have been charged after a major slip at the heap leach pad a week ago. SSR was trading at $13 before the accident. First Quantum Minerals Ltd. (FM), meanwhile, lost 51 cents to $11.61 on 2.83 million shares. It had a $30 stock last fall, before the Panamanian government decided to close the company's Cobre Panama mine "just because."

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