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by Stockwatch Business Reporter

New York spot gold closed down $4.20 to $1,276.60 Monday, as the U.S. dollar climbed to an 11-month high against the euro, after European Central Bank president Mario Draghi on the weekend hinted at more money printing. In Canada, the TSX Venture Exchange rose 2.56 points to 1,008.24, while the TSX Gold Index slipped 2.49 points to 195.92.

Major Canadian gold miners had a down day. Barrick Gold Corp. (ABX) lost 22 cents to $19.75, Alamos Gold Inc. (AGI) lost 22 cents to $9.71, Iamgold Corp. (IMG) fell nine cents to $29.52 and Agnico Eagle Mines Ltd. (AEM) dropped 81 cents to $40.05.

Ravi Sood and Amar Bhalla's Galane Gold Ltd. (GG) remained unchanged at 25 cents on 34,000 shares. The company has arranged a $5-million gold stream from Samsung C&T U.K. Ltd., part of Samsung's engineering and construction group. Korean-based Samsung is best known for its electronics, but its construction division has built three of the world's tallest skyscrapers, including the world's tallest, Burj Khalifa in Dubai, which stands at 828 metres. In exchange for its $5-million, Samsung C&T is entitled to 1,600 ounces of gold a month (for two years) from Galane's Mupane gold mine in Botswana.

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