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by Stockwatch Business Reporter

New York spot gold closed up $4.60 to $1,108.70 Tuesday. The TSX Venture Exchange slipped 5.40 points to 577.53, while the TSX Gold Index added 3.11 points to 130.74.

Gold miners in Canada followed bullion higher. Goldcorp Inc. (G) gained 33 cents to $18.99, Barrick Gold Corp. (ABX) gained 15 cents to $10.05, Eldorado Gold Corp. (ELD) climbed 27 cents to $4.97 and Detour Gold Corp. (DGC) rose 40 cents to $13.78.

Hunter Dickinson's Northern Dynasty Minerals Ltd. (NDM) lost five cents to 40 cents on 371,000 shares. The company is acquiring Frank Giustra's Cannon Point Resources Ltd. (CNP: $0.13) for 12.9 million shares (worth $5.16-million). Northern Dynasty is after Cannon's $4.7-million cash. Northern Dynasty has also arranged an up to $15-million special-warrant financing at 39.9 cents. The company plans to use the money at its 100-million-ounce Pebble gold project in Alaska, where progress has stalled.

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