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by Stockwatch Business Reporter

New York spot gold closed up $5.90 to $1,158.60 Friday, ending the week down $10. Investors will be watching the United States Federal Reserve meeting closely next week, looking for any indication as to when the Fed might increase interest rates. Here in Canada, the TSX Venture Exchange fell 9.17 points to 664.60, while the TSX Gold Index rose 1.38 points to 157.90.

Major Canadian gold miners had an up day. Goldcorp Inc. (G) climbed 49 cents to $24.12, Barrick Gold Corp. (ABX) rose six cents to $13.56, Agnico Eagle Mines Ltd. (AEM) rose four cents to $36.23 and Eldorado Gold Corp. (ELD) gained 19 cents to $6.18.

Cliff Davis's Nevsun Resources Ltd. (NSU) dropped five cents to $4.30 on 472,000 shares, after the company suspended production at its Bisha gold mine in Eritrea. Nevsun has run into a mechanical problem in its ball mill, which it hopes to fix within two weeks. During the downtime, the company plans to catch up with waste mining and preventative maintenance. Bisha is in its copper-gold phase of production. It mined only gold for the first 18 months, before reaching the deeper copper layer in mid-2013. It aims to reach an even deeper zinc layer by mid-2016. Last fall, three Eritrean refugees sued the company in the Supreme Court of British Columbia, claiming that Nevsun used forced labour and that its Bisha living conditions are poor. Nevsun disagrees, and to prove its point the company has been posting photos of the happy life at Bisha. Its latest album shows happy workers eating unlimited portions of food in the mine's all-you-can-eat cafeteria with the caption, "Well Fed = Productive."

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