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by Stockwatch Business Reporter

New York spot gold dropped $30.70 to $1,233.80 Friday, as the U.S. dollar rose. The United States Labor Department said the American economy added 257,000 jobs last month. It also revised upward its numbers for December, to 329,000 from 252,000, and November, to 423,000 from 353,000. This all points to an interest-rate hike later this year, say analysts. In Canada, the TSX Venture Exchange slipped a fraction to 693.44 and the TSX Gold Index dropped 9.37 points to 182.34.

Goldcorp Inc. (G) dropped $1.83 to $28.64, Barrick Gold Corp. (ABX) dropped 80 cents to $15.44, Yamana Gold Inc. (YRI) dropped 37 cents to $5.21 and Eldorado Gold Corp. (ELD) dropped 29 cents to $6.30.

Protests over Eldorado's gold mine in northern Greece continue, but this time it is the mine workers who are demonstrating. They want to keep their jobs, which the new leftist government has been threatening with talk of closing the mine. Eldorado is not in full production, but it has been producing a small amount of gold by processing old tailings. For permission it had to promise to clean up all mercury and post 50 million euros with the government. The mine's opposition is now planning a retaliation protest, but that will not be until Feb. 15. The NGO organizers need some time to bus in their protestors.

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