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by Stockwatch Business Reporter

New York spot gold rose $2.60 to $1,897.10 on Tuesday. The TSX Venture Exchange lost 3.1 points to 582.24 while the TSX gold index added 2.24 points to 264.34. Canadian gold miners moved little today, but a few managed more energetic efforts. On the downside, Torex Gold Resources Inc. (TXG) fell 27 cents to $14.40 on 412,000 shares. Franco-Nevada Corp. (FNV) was stronger, as it rose $2.12 to $187.34 on 379,000 shares.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) lost five cents to $6.05 on 202,000 shares on word of new high-grade assays from its Iceberg discovery, just northeast of the Keats zone on the Queensway project in north-central Newfoundland. The headline hit was a 5.3-metre interval averaging 86.9 grams of gold per tonne but as is typically the case, it got a big boost from a narrow bonanza-grade interval. In this instance, a one-metre subinterval returned 456 grams per tonne, leaving the other 4.3 metres with just one gram of gold per tonne.

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