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by Stockwatch Business Reporter

New York spot gold fell $12.40 to $1,925.60 on Tuesday. The TSX Venture Exchange rose 2.99 points to 594.51 while the TSX gold index lost 5.16 points to 269.22. Most Canadian gold miners retreated today. Centerra Gold Inc. (CG) fell 25 cents to $7.75 on 480,000 shares and Victoria Gold Corp. (VGCX) fell 34 cents to $6.45 on 393,000 shares, but neither could keep pace with McEwen Mining Inc. (MUX) which shed 86 cents to $9.84 on 76,000 shares. None of those companies had news in the past week.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) dropped eight cents to $5.86 on 157,000 shares on word it has another two bonanza-grade strikes at its Queensway project in north-central Newfoundland. The rich hits are among results from another 30 holes assayed in the company's energetic 500,000-metre drill program, which is expected to wrap up late this year. Both headline hits -- 146.67 grams per tonne over 2.7 metres and 118.73 grams per tonne across 4.1 metres -- came from the Jackpot zone.

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