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by Stockwatch Business Reporter

New York spot gold rose $10 to $1,233.40 Monday, as the U.S. dollar fell with oil, and North American stock markets declined. The TSX Venture Exchange dropped 7.22 points to 679.99, while the TSX Gold Index added 8.08 points to 174.32.

Major Canadian gold miners mirrored bullion's rise. Barrick Gold Corp. (ABX) rose 54 cents to $13.58, Agnico Eagle Mines Ltd. (AEM) rose $1.71 to $37 and Goldcorp Inc. (G) climbed $1.08 to $25.72.

Peter Marrone's Yamana Gold Inc. (YRI) also had an up day, rising 38 cents to $5.68 on 8.04 million shares. The company has arranged a $260-million bought deal with a syndicate of underwriters led by Canaccord Genuity. The gold miner plans to use the money reducing debt and improving its balance sheet. As of Sept. 30 it had $2-billion in long-term payables and $145-million in working capital. To help its all-in cash costs, the company is about to spin out four of its non-core Brazilian gold projects to a new company, Brio Gold Inc. Two of the projects are in production but suffering from high cash costs; the third is production-ready and the fourth is in the exploration stage. The spinout should help Yamana keep its all-in cash costs below $800 an ounce this year. Its stock is trading at a five-year low, and has fallen from $20 in late 2012.

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