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by Stockwatch Business Reporter

New York spot gold closed up $2.90 to $1,204.20 Wednesday, rising with an increase in physical demand from Asia as the Chinese returned from their week-long New Year holiday. In Europe, Greece obtained a four-month extension to its bailout package, and in Canada the TSX Venture Exchange rose 7.43 points to 699.40 and the TSX Gold Index edged up 1.85 points to 177.54.

Canada's major gold miners ended the day up. Barrick Gold Corp. (ABX) climbed 18 cents to $15.88, Detour Gold Corp. (DGC) gained 45 cents to $11.61, Yamana Gold Inc. (YRI) added five cents to $5.09 and Eldorado Gold Corp. (ELD) gained 17 cents to $6.76.

Greece's new government has been unclear on whether it will allow Eldorado to mine at its Skouries gold project, and today energy minister Panagiotis Lafazanis said he would not stop the mine, but he would start looking into its permits. This is almost as slippery as his comments last month, when he said the government would not block the project, but it was absolutely against it.

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