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by Stockwatch Business Reporter

New York spot gold closed up $9.30 to $1,241.50 Wednesday, rising after the United States released three disappointing economic reports. Both retail sales and the producer price index fell last month, while manufacturing numbers are down so far this month. Here in Canada, the TSX Venture Exchange slid 24.73 points to 778.36 and the TSX Gold Index lost a fraction to 168.39.

Canada's larger gold producers ended the day some down, others up. Goldcorp Inc. (G) lost 20 cents to $26.59, Barrick Gold Corp. (ABX) lost 21 cents to $15.24 and Agnico Eagle Mines Ltd. (AEM) rose 68 cents to $34.66.

Kenneth Brunk's Midway Gold Corp. (MDW) edged up five cents to $1.27 on 12,000 shares. The company has found a new president, William Zisch, to replace Mr. Brunk, who is retiring on Dec. 10. This means Mr. Brunk has two final months to produce Midway's first-ever bar of gold. The company began mining at its Pan project in Nevada in September; it hopes to pour the first bar any day. Midway also has a joint venture in Nevada with Barrick, Spring Valley, where the major earned a 70-per-cent interest this past May, thanks to $38-million worth of exploration spending. Barrick budgets another $17-million on Spring Valley exploration for the rest of this year.

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