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by Stockwatch Business Reporter

New York spot gold rose $0.80 to $1,257.30 on Thursday. The TSX Venture Exchange rose 3.16 points to 741.91 while the TSX Gold Index added 0.39 point to 195.81. Agnico Eagle Mines Ltd. (AEM) moved higher again today, adding $1.11 to $62.69 on 1.28 million shares. Centerra Gold Inc. (CG) took a hit, dropping 69 cents to $6.84 on 1.53 million shares after it said that it is continuing to search for an adequate water supply for its Mount Milligan mine in British Columbia. The company had to reduce production temporarily last winter because of a water shortage.

Simon Ridgway and Daniel James's Medgold Resources Corp. (MED), down three cents to 43 cents on 188,000 shares, has received assays of up to 14.2 grams of gold and 58 grams of silver per tonne over nine metres at its Tiamino project in southern Serbia. The assays are from the latest three holes of a first phase of drilling on the project. The two other holes yielded lesser amounts of precious metals over intervals of up to 20.2 metres. In mid-June, two holes produced assays of up to 2.44 grams of gold and 219 grams of silver per tonne over 26.1 metres and a week earlier, the first two holes of the program yielded 3.11 grams of gold and 27.5 grams of silver per tonne over 34.65 metres.

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