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Gold Summary for Aug. 6, 2019

2019-08-06 18:12 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $9.90 to $1,473.30 on Tuesday. The TSX Venture Exchange fell 1.05 points to 594.69 while the TSX Gold Index added 9.59 points to 246.78. Most Canadian gold miners had a good day. Newmont Goldcorp Corp. (NGT) gained $1.65 to $50.41 on 535,000 shares, while Agnico Eagle Mines Ltd. (AEM) gained $3.90 to $75.35 on 2.04 million shares. Iamgold Corp. (IMG) picked a good time to tell investors that mining at its Rosebel mine in Suriname has been temporarily halted in the wake of the death of a trespasser. It managed a 25-cent gain to $5.19 on 6.12 million shares.

The interval was modest but a bonanza grade from a new interval at the Nugget zone on the Klondike property in Yukon sent Frank Giustra and Eric Sprott's Klondike Gold Corp. (KG) up 3.5 cents to 41 cents on 3.45 million shares. The latest assays from nine new holes yielded up to 404.2 grams of gold and 415.4 grams of silver per tonne over 2.5 metres. The results from the other holes were less impressive, although a second hole produced 113.6 grams of gold and 17.2 grams of silver per tonne over 0.5 metre, while a third managed 78.8 grams of gold and 13.9 grams of silver per tonne over 0.6 metre.

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