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by Stockwatch Business Reporter

New York spot gold gained $2.80 to $1,312.80 on Monday. The TSX Venture Exchange rose 2.44 points to 801.68 while the TSX Gold Index added 1.67 points to 236.02. Agnico Eagle Mines Ltd. (AEM) had a good day, gaining 79 cents to $68.78 on 942,000 shares, while Barrick Gold Corp. (ABX) lost 17 cents to $22.71 on 4.55 million shares.

Scott Hand and Mark Selby's Royal Nickel Corp. (RNX), down one-half cent to 38.5 cents on 472,000 shares, is touting the discovery of two new gold zones on its Qiqavik project in Northern Quebec. The new finds are fortunate, as the company's planned 1,000-metre drill program at the Gerfaut zone was disappointing. Royal Nickel managed just six holes and 550 metres of drilling and three of the holes were terminated before they hit the expected mineralized zone. The best of the assays from the other holes yielded hits of up to 1.17 grams of gold per tonne over 1.43 metres.

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