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by Stockwatch Business Reporter

New York spot gold closed down $7.60 to $1,294.60 Friday. Barclays said it will keep its forecast for the price of gold by year-end at $1,250; it already boosted it once, up from $1,205 in January. Goldman Sachs is more bearish, targeting $1,050, while Bank of America Merrill Lynch expects $1,300. Here in Canada, the TSX Venture Exchange rose a fraction to 998.77, while the TSX Gold Index lost 1.71 points to 180.15.

Canadian gold miners had a down day. Barrick Gold Corp. (ABX) dropped 38 cents to $19.81, Goldcorp Inc. (G) lost 21 cents to $25.01, Yamana Gold Inc. (YRI) slipped seven cents to $8.76 and Kinross Gold Corp. (K) slipped eight cents to $4.46.

Len Clough's Standard Tolling Corp. (TON) remained unchanged at 15 cents on 1.20 million shares. The company hopes to either buy and refurbish a toll mill in Peru, or build its own. It has one Peruvian project, Rio Tabaconas, but the mill will not go there. Locals have not allowed the company on the property since 2001. Once Standard has a mill somewhere it could start generating revenue by processing ore from wildcat miners, but only those who have registered with the government of course. Some confusion over ore suppliers at Ed Kelly's Inca One Resources Corp. (IO: $0.13) prompted an unhappy visit from a group of government officials. Last month, they caused some "minor damages" to Inca's Chala mill. President Kelly is hoping to obtain money from the government for repairs. Inca bought its mill last summer, spending about $600,000 on refurbishments. Before the damages it had produced 172 ounces of gold.

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