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by Stockwatch Business Reporter

New York spot gold rose $11.90 to $1,958.70 on Friday. The TSX Venture Exchange rose 13.53 points to 625.10 while the TSX gold index added 3.59 points to 283.46. Most Canadian gold miners moved higher with bullion today. New Gold Inc. (NGD) recovered a bit of yesterday's slide, rising nine cents to $1.52 on 2.02 million shares. Alamos Gold Inc. (AGI) also did well, adding 49 cents to $16.12 on 910,000 shares.

George Burns's Eldorado Gold Corp. (ELD) lost 68 cents to $12.74 on one million shares on its second quarter financials. The company earned $800,000 (U.S.) in the quarter ended June 30, thanks to production of just under 110,000 ounces of gold. This was a bit less than a year ago, a drop resulting from lower throughput at Lamaque because of the Quebec wildfires. Lower grades and recoveries at the Olympias mine in Greece also contributed to the drop.

Mr. Burns, president and chief executive officer, bemoaned meteorology as the primary culprit. The hot dry weather across much of Quebec sparked one fire after another from May into July, "impacting operations at Lamaque." On the other hand, the Kisladag area of Turkey received heavy rainfall, providing challenges of a different sort. (If only miners could blend differing grades of weather the way they can with ore.)

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