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by Stockwatch Business Reporter

New York spot gold closed up $14.40 to $1,308.30 Friday, rising after three down days. Investors have plenty of news to look forward to next week. The U.S. Federal Reserve is holding its two-day meeting, and the Labor Department will have its July jobs report. Here in Canada, the TSX Venture Exchange rose 5.79 points to 1,017.44 and the TSX Gold Index rose 6.31 points to 200.79.

Gold miners in Canada followed bullion higher. Barrick Gold Corp. (ABX) rose 54 cents to $20.20, Alamos Gold Inc. (AGI) rose 15 cents to $10.10, Detour Gold Corp. (DGC) gained 41 cents to $13.52 and Kirkland Lake Gold Inc. (KGI) climbed nine cents to $3.65.

Sean Roosen's new company, Osisko Gold Royalties Ltd. (OR), rose 50 cents to $16.01 on 426,000 shares. Osisko Gold was created last month as a spinout when Yamana and Agnico Eagle took over Mr. Roosen's other company, Osisko Mining Corp. and its Malartic gold mine in Quebec. Osisko Gold has a 5-per-cent royalty on Malartic production, $137-million in cash and some land claims in Mexico. Today, Mr. Roosen decided to increase the company's position in an explorer closer to home. It plans to buy 14 million shares of Mike Iverson's Niogold Mining Corp. (NOX), up seven cents to 28 cents on 818,000 shares. This will boost Osisko's Niogold holdings to 23.5 million shares, or 19.5 per cent of the company. Niogold has agreed to move its head office to Montreal from Langley, B.C. It has four contiguous gold properties, one of which shares a border with the Malartic gold mine. Niogold calls all four properties together the Malartic Block, and it has already established two million ounces of gold, thanks to former optionee Aurizon Minerals Ltd. Aurizon spent $11-million exploring at the Block until Hecla Mining Co. acquired it (Aurizon) last summer. Hecla dropped its Malartic Block option, leaving Mr. Iverson on his own. He has been toiling away at the Malartic claims since 2005. His patience is starting to pay off.

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