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by Stockwatch Business Reporter

New York spot gold rose $0.60 to $1,196.00 on Tuesday. The TSX Venture Exchange rose 3.46 points to 722.20 while the TSX Gold Index lost 1.09 points to 148.96. Decliners dominated Canadian Golds today, led by Guyana Goldfields Inc. (GUY), which dropped 21 cents to $3.15 on 1.13 million shares. Gainers were few, although Torex Gold Resources Inc. (TXG) managed a 35-cent rise to $9.98 on 396,000 shares.

Mark Selby's Royal Nickel Corp. (RNX) surged 10.5 cents to 28 cents on 98.07 million shares. Today's gain follows Monday's 8.5-cent leap to 17 cents on 61.43 million shares, a doubling that came on the heels of news that the company had recovered 9,250 ounces of gold from a 130-tonne cut at its Beta Hunt mine in Western Australia. (The grade was approximately 2,200 grams per tonne.) Mr. Selby, president and chief executive officer, says that the recovery included individual specimens that "could rank among the largest ever discovered." (He is referring to one rock that weighed 95 kilograms and a second that weighed 63 kilograms. Together, they produced 4,060 ounces of the gold, making them about 80-per-cent gold.)

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