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by Stockwatch Business Reporter

New York spot gold closed up $14.20 to $1,219.30 Tuesday, rising as gold rose and oil fall. Gold has climbed $30 this week, but Barclays warns that it will come under selling pressure mid-year, especially if the United States increases its interest rates. The bank says gold should average around $1,180 an ounce this year, down from $1,265 an ounce in 2014. Here in Canada, the TSX Venture Exchange dropped 8.40 points to 685.60, while the TSX Gold Index added 9.14 points to 164.48.

Canadian gold mining stocks followed bullion higher. Agnico Eagle Mines Ltd. (AEM) rose $2.10 to $34.30, Goldcorp Inc. (G) climbed $1.80 to $24, Detour Gold Corp. (DGC) gained 87 cents to $11.60 and Yamana Gold Inc. (YRI) gained 57 cents to $5.29.

Duane Parnham's Giyani Gold Corp. (WDG) dropped 21 cents to 15 cents on 2.44 million shares, resuming today after a halt of almost five months. The South African gold explorer was halted in early August, pending a change of business. It planned to give up on gold, acquiring two energy companies, one with crude oil storage and a dry bulk cargo port in Turkey and the other with an operating coal mine in South Africa. In connection with the acquisitions, Giyani was supposed to raise up to $25-million, but it failed to raise anything and the deals expired on Dec. 31.

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