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by Stockwatch Business Reporter

New York spot gold rose $3.60 to $1,185.10 Wednesday. The United States Federal Reserve wrapped up its two-day meeting today. It said the American economy is improving, but it gave no indication as to when it might increase interest rates. Here in Canada, the TSX Venture Exchange edged up 2.82 points to 681.57 and the TSX Gold Index added 3.35 points to 156.23.

Major Canadian gold miners rose with bullion. Detour Gold Corp. (DGC) gained 75 cents to $16.01, Alamos Gold Inc. (AGI) added two cents to $7.62, Eldorado Gold Corp. (ELD) added seven cents to $5.14 and Goldcorp Inc. (G) climbed 18 cents to $20.36.

Goldcorp has $2-billion in working capital, thanks to the $988-million in proceeds it received for its 56 million shares of Tahoe Resources Inc. (THO: $16.98) earlier this week. Goldcorp sold the stock to GMP Securities and BMO Capital Markets at $17.20 a share. (It received the stock at a deemed value of $6 in 2010). GMP and BMO are now looking for buyers. Tahoe's stock dropped as low as $16.39, on news that the company had lost Goldcorp as a 26-per-cent investor, but today it rallied 20 cents to $16.98. The Tahoe shares are now worth $985-million, down $14-million from what GMP and BMO paid.

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