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Gold Summary for April 1, 2024

2024-04-01 18:27 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $12.10 to $2,245.10 on Monday. The TSX Venture Exchange rose 6.08 points to 569.47 while the TSX gold index gained 4.80 points to 295.14. Allied Gold Corp. (AAUC) did well, adding 22 cents to $3.62 on 309,000 shares today. So did First Majestic Silver Corp. (FR), which rose 49 cents to $8.44 on 1.97 million shares. Not all gold miners had a good day. Benoit La Salle's Aya Gold & Silver Inc. (AYA), which said late last week that it had managed a modest profit for 2023 but fell 81 cents to $11.66 on 1.97 million shares on the news, dropped another 69 cents to $10.97 on 1.04 million shares today.

Renaud Adams's Iamgold Corp. (IMG) surged 42 cents to $4.94 on 4.01 million shares on word it has "achieved the milestone of first gold pour" at its Cote mine in Northern Ontario, less than three months from the start of commissioning the big, costly operation. Veteran shareholders are perhaps a bit greyer than those of its rivals, as they endured Cote going from a proposed $1.15-billion mine to one that cost about $3.5-billion by the time Iamgold got it running. (Cote was a big reason that Iamgold's stock got close to $9 in 2017. It was also a big reason it fell nearly to $1 in the fall of 2022.)

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