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by Stockwatch Business Reporter

New York spot gold gained $10.20 to $1,193.80 on Monday. The TSX Venture Exchange gained 2.23 points to 736.81 while the TSX Gold Index rose 7.09 points to 195.60. Most Canadian gold miners moved higher, led by Detour Gold Corp. (DGC), which added $1.32 to $17.70 on 2.10 million shares.

Peter Akerley's Erdene Resource Development Corp. (ERD), up 3.5 cents to 41 cents on 1.01 million shares, has received higher-grade assays from Bayan Khundii in Mongolia. The results include a 63-metre zone that averaged 6.3 grams of gold per tonne along the southern boundary of the Deep Striker zone, with much of the gold coming from a 12-metre interval that ran 29 grams per tonne. The latest hits handily topped the assays received two weeks ago, which included a 56-metre zone that averaged just 2.1 grams per tonne, and those received a month ago, where the best hit assayed just 2.0 grams per tonne over 68 metres.

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