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by Stockwatch Business Reporter

New York spot gold closed down $1.10 to $1,202 Thursday, falling slightly with the U.S. dollar. The TSX Venture Exchange rose 1.70 points to 683.02, while the TSX Gold Index lost 2.79 points to 162.20.

Gold miners in Canada ended the day down. Barrick Gold Corp. (ABX) lost 25 cents to $14.93, Agnico Eagle Mines Ltd. (AEM) lost 75 cents to $37.38, Yamana Gold Inc. (YRI) dropped 11 cents to $4.69 and Kinross Gold Corp. (K) slipped six cents to $2.91.

Kinross has suspended mining at its Maricunga gold mine in northern Chile, after torrential rainstorms flooded the Atacama desert, washing out roads and power lines. Kinross says its buildings and site are safe, but access is limited and there is no electricity. The company does not expect the shutdown to affect its 2015 gold production. Maricunga was responsible for 247,000 ounces last year, or about 9 per cent of total gold production. Kinross is not the only miner to suspend operations. Last week, Lundin Mining Corp. (LUN: $5.19) stopped work at its two copper mines, Candelaris and Ojos del Salado. Chile's meteorological service says the desert received 24 millimetres of rain in one day. Most Vancouverites would consider this a typical April downpour, but in the Atacama desert, where annual rainfall is just 1.7 millimetres, it is not far removed from a biblical event.

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