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by Stockwatch Business Reporter

New York spot gold closed up $5 to $1,089.50 Thursday, ahead of Friday's United States jobs report. Analysts are predicting an increase of 215,000. The number could influence the U.S. Federal Reserve as to when it increases interest rates. Here in Canada, the TSX Venture Exchange dropped 3.82 points to 581.03, while the TSX Gold Index added 2.48 points to 120.46.

Gold miners in Canada followed bullion higher. Barrick Gold Corp. (ABX) gained 32 cents to $8.99, Goldcorp Inc. (G) gained 32 cents to $17.67, Detour Gold Corp. (DGC) rose 52 cents to $12.54 and Kinross Gold Corp. (K) climbed 14 cents to $2.39.

Tony Jensen's gold royalty company Royal Gold Ltd. (RGL) dropped 71 cents to $64.29 on 2,800 shares. The stock has fallen from $95 this year, thanks in part to the falling gold price and in part to expansion pains at the Mount Milligan copper-gold mine in British Columbia. Royal put up $915-million to help Thomson Creek Metals Company Inc. (TCM: $0.74) rebuild the mine, in exchange for 52 per cent of gold production at $435 an ounce. Royal was hoping to purchase 100,000 ounces during its year ended June 30, but there were only 76,000 ounces available. Royal, which had $700-million in working capital on March 31, has been buying and selling all month. It first sold its royalty on the Andacollo gold-copper mine in Chile for $345-million. Then, it arranged to advance $150-million to Golden Star Resources Ltd. (GSC: $0.275), in exchange for gold production from Ghana, and yesterday it promised Barrick $610-million, in exchange for gold production from the Dominican Republic.

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