This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold closed up $11.30 to $1,162.90 Tuesday, rising as the U.S. dollar fell. The TSX Venture Exchange added 6.80 points to 772.29 and the TSX Gold Index climbed 5.82 points to 142.

Canada's gold miners ended the day higher. Agnico Eagle Mines Ltd. (AEM) gained $1.09 to $27.27, Barrick Gold Corp. (ABX) rose 31 cents to $13.21, Kinross Gold Corp. (K) rose nine cents to $2.74 and Iamgold Corp. (IMG) added seven cents to $2.18.

Iamgold investors are anxiously awaiting tomorrow's third-quarter results. Yesterday president Steve Letwin said, "Iamgold has great promise and the determination, discipline and financial strength to achieve improved economic returns," as he fired three company executives and dismantled the mine-building division. The company will contract out mine building. Just one year ago, president Letwin was promoting Iamgold's decision to focus on low-grade ore, telling Reuters: "I don't care who you are -- we are all migrating to lower grade. It's just a fact of life." Regardless of the migrations, gold miners with higher-grade ore are now busy mining that and saving the low-grade ore for later. Mr. Letwin is also busy trying to lower cash costs, which were $1,136 an ounce all-in in the second quarter.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS