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by Stockwatch Business Reporter

New York spot gold closed up $9.10 to $1,099.50 Friday, ending the week down $35. Gold has dropped $72 so far this month, and it could fall further after the United States Federal Reserve meeting next week. Here in Canada, the TSX Venture Exchange lost 5.61 points to 592.49, while the TSX Gold Index rose 4.91 points to 124.54.

Canada's larger gold miners ended the day up. Agnico Eagle Mines Ltd. (AEM) climbed $2.10 to $31.26, Barrick Gold Corp. (ABX) gained 26 cents to $9.47, Goldcorp Inc. (G) gained 69 cents to $17.35 and Iamgold Corp. (IMG) rose 23 cents to $1.81.

Paul Huet's Klondex Mines Ltd. (KDX) rose seven cents to $3.05 on 396,000 shares. While most gold companies have tumbled this month, Klondex has fallen by only 60 cents and the stock is up from $1.70 last fall. Production at the company's Midas mill and Fire Creek projects in Nevada has been better than expected. Cash costs are low at $387 an ounce all-in, thanks to byproduct credits. Klondex sold a record 34,000 ounces of gold equivalent in the second quarter, prompting the company to boost its year-end production target to 130,000 ounces, up from 125,000 ounces. It hopes to further expand production next year by processing tailings left behind by Newmont Mining Corp. at Midas.

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