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by Stockwatch Business Reporter

New York spot gold dropped $33.30 to $1,394.70, hitting a three-week low Wednesday as the U.S. dollar continued to surge against other world currencies. In Canada, the TSX Venture Exchange lost 13.01 points to 936.87 and the TSX Gold Index lost 8.94 points to 185.93.

Canada's major gold miners followed bullion down. Barrick Gold Corp. (ABX) dropped $1.12 to $19.74, Goldcorp Inc. (G) dropped $1.49 to $27.74, Eldorado Gold Corp. (ELD) lost 35 cents to $7 and Osisko Mining Corp. (OSK) fell 31 cents to $3.98.

Alan Zaakir's Mahdia Gold Corp. (MGD) edged up 1.5 cents to 11.5 cents on 54,000 shares. Chairman Zaakir has resigned from the board, but plans to stay on as an international affairs liason to the government of Guyana. He says he is resigning to become more involved in other aspects of Guyana. There has been much speculation he would eventually run for office. Mr. Zaakir has been involved with his home country for two decades. In the 1990s he started making donations to an orphanage. Coincidently, Mahdia's predecessor, Wintercrest Resources Ltd., made products that would appeal to young ophans. It spent a decade promoting singing teddies, solar-powered knapsacks and animated pumpkins, before rolling back 1:2 in 2009 and turning to exploration.

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