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by Stockwatch Business Reporter

New York spot gold closed down $2.70 to $1,089.20 on Tuesday. The TSX Venture Exchange fell 2.24 points to 531.48 while the TSX Gold Index dropped 2.73 points to 122.32. Canadian gold miners gave way again. Eldorado Gold Corp. (ELD) fell 19 cents to $4.27 on 4.74 million shares, while Yamana Gold Inc. (YRI) dipped 11 cents to $2.34 on 4.86 million shares.

Jonathan Awde's Gold Standard Ventures Corp. (GSV), up 10 cents to 72 cents on 996,000 shares, has a second long gold hit at its Railroad-Pinion project in Nevada. The latest hole produced 1.51 grams of gold per tonne over a 157-metre interval, commencing at a depth of 104 metres. Mr. Awde, chief executive officer, says the latest results "confirm discovery of a substantial new, higher-grade oxide gold zone" just north of the company's Dark Star deposit. (Gold Standard received assays last week from several holes in the new area, one of which averaged 1.38 grams of gold over 149 metres, commencing at a depth of 216 metres.)

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