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by Stockwatch Business Reporter

New York spot gold closed down $4.50 to $1,154.10 Monday, falling ahead of this week's United States Federal Reserve meeting. Analysts are watching to see whether the Fed keeps the word "patient" in its monetary policy statement. Its removal would signal plans to increase the interest rate in June. Here in Canada, the TSX Venture Exchange slipped a fraction to 663.84, and the TSX Gold Index did the same, but to 157.86.

Canadian gold miners ended some down, others up. Eldorado Gold Corp. (ELD) fell nine cents to $6.09, Barrick Gold Corp. (ABX) fell nine cents to $13.47, Agnico Eagle Mines Ltd. (AEM) gained nine cents to $36.32 and Goldcorp Inc. (G) added four cents to $24.16.

Three of the four Goldcorp miners kidnapped in Guerrero, Mexico, on March 6, have been found in a mass grave, according to Reuters. The fourth miner was apparently freed unharmed. Goldcorp told Reuters the "incident" was unrelated to its work in the country. Even so, the increase in kidnappings this year is undoubtedly of great concern for all companies working in the area, including Fred Stanford's Torex Gold Resources Inc. (TXG: $0.94), which had to temporarily stop construction of its $800-million El Limon gold mine last month after a separate kidnapping. Also working in the area are Darrell Rader's Minaurum Gold Inc. (MGG: $0.07), which is applying for drill permits, David Baker's Guerrero Ventures Inc. (GV: $0.065), which just finished a drill program, and Marc Blythe's Tarsis Resources Ltd. (TCC: $0.025), which is hoping to find a joint venturer. There is also the soon-to-be Guerrero explorer, Timmins Gold Corp. (TMM: $0.83), which has offered $140-million to acquire Newstrike Capital Inc. (NES: $0.72) and its Guerrero gold project.

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