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by Stockwatch Business Reporter

New York spot gold closed down $8.40 to $1,088.30 Thursday. The TSX Venture Exchange rose 3.54 points to 588.30, while the TSX Gold Index lost 3.23 points to 119.40.

Gold miners in Canada ended the day lower. Agnico Eagle Mines Ltd. (AEM) dropped $2.16 to $28.13, Eldorado Gold Corp. (ELD) fell 19 cents to $4.04, Goldcorp Inc. (G) lost 23 cents to $16.46 and Barrick Gold Corp. (ABX) dropped 22 cents to $9.16.

Barrick has arranged to sell 50 per cent of its Zaldivar copper mine in Chile to Chilean copper miner Antofagasta PLC for $1-billion cash. This is the third big asset sale recently. In May, Barrick sold its Cowal gold mine in Australia for $550-million cash, and 50 per cent of its Porgera gold mine in Papua New Guinea for $298-million cash. Chairman John Thornton plans to use the $1.85-billion to reduce debt. At March 31, 2015, the gold miner had $2.3-billion in current liabilities and $18-billion in long-term liabilities.

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