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by Stockwatch Business Reporter

New York spot gold closed up $3.80 to $1,221.70 Thursday. Britain's Royal Mint said there has been an increase in gold purchases by Greek customers this week, as Greeks prepare for the worst. The country's new leftist government continues to negotiate with the European Union. India has regained its title as the the world's largest gold consumer. Its demand hit 843 tonnes last year, beating China's 813 tonnes, according to the World Gold Council. In Canada, the TSX Venture Exchange rose 2.22 points to 692.44 and the TSX Gold Index edged up a fraction to 180.10.

Canada's bigger gold miners ended some up, some flat, some down. Goldcorp Inc. (G) rose 24 cents to $29.12, Barrick Gold Corp. (ABX) added five cents to $15.15 and Eldorado Gold Corp. (ELD) remained unchanged at $6.06 and Yamana Gold Inc. (YRI) lost two cents to $5.

Robert Wares and Andre Gagne's Komet Resources Inc. (KMT) gained 8.5 cents to 56 cents on 124,000 shares. Mr. Gagne was recently in Burkina Faso to oversee the licence transfer of the company's new Guiro gold project. He is now off to Luxembourg and France, where he plans to market the company to new investors. Komet has $1-million in working capital, 42 million shares outstanding and two gold properties, Guiro in Burkina Faso and FCI in Quebec. Talk of gold exploration has boosted Komet's stock up from 7.5 cents early last year, when it decided to get into the gold business. Previously, Komet sold easy-to-assemble bathroom vanities to big box stores, such as Rona, Home Depot and Walmart. Business was not booming. After nine consecutive quarters of losses, Komet stopped selling vanities, optioned the FCI gold property from Virginia Mines Inc. (VGQ: $15.14) and hired Mr. Gagne as president. He bought his first 200,000 Komet shares at 7.5 cents; they are now worth $111,800 on paper. He has since added 2.49 million shares, at prices ranging from 23 cents to 54 cents, to his holdings.

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