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by Stockwatch Business Reporter

New York spot gold closed up 40 cents to $1,284.10 Wednesday, as tensions in Ukraine re-entered the headlines. The country has accused pro-Russian separatists of torturing Ukrainian citizens and shooting at a Ukrainian jet. United States Vice-President Joe Biden was in Kiev today, warning Russians to back off. Here in Canada, the TSX Venture Exchange rose 6.10 points to 1,010.98 and the TSX Gold Index added 3.86 points to 186.09.

Major Canadian gold miners ended the day higher. Goldcorp Inc. (G) rose 24 cents to $27.28; its offer for Osisko Mining Corp. (OSK), up 20 cents to $7.93, expired at 11:59 p.m. last night. Goldcorp will not take up any tendered shares, returning them to Osisko shareholders. Barrick Gold Corp. (ABX) also rose, 22 cents to $19.59. The company's soon-to-be-retired chairman, Peter Munk, has commented on this week's merger rumour. He said an all-stock merger between Barrick and Newmont Mining would result in significant cost savings, especially in Nevada. The companies have entertained a merger twice before, in 1996 when gold was $387 an ounce, and in 2004 when gold was $410.

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