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by Stockwatch Business Reporter

New York spot gold gained $10.30 to $1,088.80 on Monday. The TSX Venture Exchange lost 3.89 points to 485.07 while the TSX Gold Index inched 0.08 point higher to 131.62. There was little movement among Canadian gold miners today. Barrick Gold Corp. (ABX) gained 13 cents to $11.62 on 1.56 million shares while Kirkland Lake Gold Inc. (KGI) lost 18 cents to $4.67 on 198,000 shares.

Patrick Cronin and Vishal Gupta's California Gold Mining Inc. (CGM), unchanged at four cents on 165,000 shares, has received assays of up to 18.4 grams per tonne over 1.1 metres from one of three recent holes drilled at its Fremont project in California. The two other holes yielded lower values of gold, although one managed 1.96 grams per tonne over 21.5 metres. Mr. Gupta, president and chief executive officer, said the "welcome results" compare favourably with earlier drilling and "demonstrate a compelling foundation" for a maiden resource estimate that should be available soon.

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