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by Stockwatch Business Reporter

New York spot gold closed down 90 cents to $1,205.90 Friday, ending the week down $17 on a lighter day of trading ahead of the American long weekend. United States markets will be shut on Monday for Memorial Day. In Canada, the TSX Venture Exchange added 2.97 points to 703.48 and the TSX Gold Index rose a fraction to 166.40.

Major Canadian gold miners ended the day mostly higher. Agnico Eagle Mines Ltd. (AEM) gained 18 cents to $40.08, Eldorado Gold Corp. (ELD) gained 10 cents to $6.05, Goldcorp Inc. (G) rose five cents to $22.52 and Detour Gold Corp. (DGC) added one cent to $13.31.

Mike Weeks's Angkor Gold Corp. (ANK) remained unchanged at 63 cents on 93,000 shares. Angkor is drilling at its seven gold properties in Cambodia with the $1.28-million in raised in February. The money came from a group of unnamed North American investors, who bought a 5-per-cent joint venture interest in the properties. Angkor would like to sell another interest, 10 per cent, to Jiancheng Peng's Tohui Beishan Property Group of China for $2.8-million. The offer will expire in July. Tohui is one of Angkor's happier investors. The Chinese company bought 7.9 million units at 28.5 cents last fall, a $2.25-million investment that is now worth $6-million on paper (assuming Tohui exercises its warrants to buy 7.9 million shares at 50 cents before June 30). If it does exercise, Angkor will receive another $3.95-million.

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