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by Stockwatch Business Reporter

New York spot gold closed up $6.50 to $1,289.20 Thursday, rising slightly after reports that Russia's military has invaded eastern Ukraine. Russia, as usual, vehemently denies this. Gold's rise was impaired by a strong United States GDP report. Here in Canada, the TSX Venture Exchange rose 3.03 points to 1,022.37 and the TSX Gold Index added 1.6 points to 199.15.

Canadian gold miners had an up day. Yamana Gold Inc. (YRI) rose six cents to $9.07, Eldorado Gold Corp. (ELD) edged up two cents to $8.87, Alamos Gold Inc. (AGI) rose 14 cents to $9.82 and Goldcorp Inc. (G) gained 25 cents to $30.12.

Tom Patton's Quaterra Resources Inc. (QTA) was the second-most active stock on the TSX-V, rising 2.5 cents to six cents on 5.43 million shares, its busiest trading day ever. The company has been busy promoting its new joint venture, a deal with Freeport McMoRan Inc. (FCX: $36.16 (U.S.)). In exchange for 75 per cent of Quaterra's Yerington copper-gold property in Nevada, Freeport has promised to spend $138.6-million, in stages. The amount sounds impressive but Freeport will spend its first year conducting only due diligence, after which it is required to make a $2.5-million, nonrefundable payment if it wishes to proceed.

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