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by Stockwatch Business

New York spot gold closed up $2.90 to $1,201.20 Tuesday, receiving a slight boost after the United States Conference board reported that consumer confidence is down this month. The TSX Venture Exchange lost 6.86 points to 780.64, while the TSX Gold Index rose 6.47 points to 158.26.

Gold miners in Canada outperformed bullion. Goldcorp Inc. (G) gained $1.12 to $24.15, Detour Gold Corp. (DGC) gained 65 cents to $10.12, Alamos Gold Inc. (AGI) rose 22 cents to $8.66 and Eldorado Gold Corp. (ELD) climbed 77 cents to $7.99.

Bill Howald's Rye Patch Gold Corp. (RPM) lost one-half cent to 14.5 cents on 162,000 shares. The company has tallied up the revenues generated by its 3.4-per-cent NSR royalty on the Rochester gold mine in Nevada (operated by Coeur Mining Inc.) so far this year and the number, $2.85-million, is not impressive. At this rate, the royalty will bring in about $3.8-million for all of 2014, which is far below Mr. Howald's once-glorious expectations. Last year, he was talking up revenues "between $6.79-million (U.S.) to $8.56-million (U.S.) annually" for 2014, 2015, 2016 and 2017. Today's number is disappointing, but at least the company has revenue, which means it continue exploration at its handful of gold properties in Nevada.

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