13:47:59 EDT Tue 29 Sep 2020

Gold Summary for Sept. 14, 2020

2020-09-14 19:11 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold jumped $15.50 to $1,955.60 on Monday. The TSX-V rose 8.36 points to 741.73 while the TSX gold index added 11.50 points to 392.15. Most Canadian gold miners moved higher today, some of them sharply. Torex Gold Resources Inc. (TXG) added $1.88 to $21.89 on 1.12 million shares. It has no recent news to account for the move, but Desjardins Securities analyst, Andrew Breichmanas, hit the press late last week with his bullishness about Torex and gold in general.

One company with news -- good news at that -- was Teranga Gold Corp. (TGZ). It managed a 90-cent gain, closing at $15.53 on 726,000 shares on word that it expects to hit its 2020 production guidance. Richard Young, president and chief executive officer, says that the company should produce between 375,000 and 400,000 ounces of gold from its West African mines -- a "record-breaking number" as the he and the company "advance toward mid-tier status."

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