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Gold Summary for Aug. 29, 2014

2014-08-29 20:45 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold lost $2 to $1,287.20 Friday, slipping ahead of the long weekend but ending the month up $7. Police in Mumbai are trying something new. They have placed suspicious objects around shrines in hopes of testing residents' alertness during the 10-day festival of the elephant god Ganesh. Those who report a suspicious object will receive a gold coin as a reward, according to an item on Kitco. This is part of Mumbai's new anti-terror measures, but if the gold coin contains real gold there will be not only an inundation of suspicious packages but also an inundation of observant Indians claiming a reward. Here in Canada, the TSX Venture Exchange added 1.62 points to 1,023.99 and the TSX Gold Index rose 2.96 points to 202.10.

Major Canadian gold miners ended the day higher. Barrick Gold Corp. (ABX) gained 24 cents to $19.99, Yamana Gold Inc. (YRI) gained 19 cents to $9.26 and Agnico Eagle Mines Ltd. (AEM) rose 62 cents to $41.58.

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