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by Stockwatch Business Reporter

New York spot gold fell $11.60 to $1,913.40 on Wednesday. The TSX Venture Exchange fell 4.11 points to 603.55 while the TSX gold index added 0.77 point to 273.01. Most Canadian gold miners moved little today, but some jogged in place with vigour. Kinross Gold Corp. (K), which traded over nine million shares Friday on word it will again be buying back a bundle of its shares this year, topped that volume handily on Tuesday, as 11.57 million shares traded. Kinross, which had been trading just above $6 a week ago, rose two cents to $6.76 on 6.57 million shares today.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) lost two cents to $5.78 on 148,000 shares on word of another bonanza-grade hit at its Queensway project in north-central Newfoundland. A stepout hole drilled downdip and along strike from two earlier rich hits returned 166.79 grams of gold per tonne over 4.7 metres. Most of the gold sat within a 0.75-metre portion that averaged 1,010 grams per tonne, leaving the other 3.95 metres with just 6.69 grams per tonne.

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