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by Stockwatch Business Reporter

New York spot gold added $9.60 to $1,980.10 on Wednesday. The TSX Venture Exchange dipped 4.59 points to 518.31 while the TSX gold index fell 2.80 points to 276.21. Most Canadian gold miners strayed little from Tuesday, but China Gold International Resources Corp. (CGG) did add nine cents to $5.93 on 44,000 shares while Newmont Corp.(NGT) fell $2.15 to $50.66 on 874,000 shares.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) -- definitely a newsmaker of late -- lost 19 cents to $5.89 on 232,000 shares on another Iceberg hit at Queensway, in north-central Newfoundland. Assays from another 23 holes drilled in the area produced up to 14 grams of gold per tonne across 9.05 metres. Much of the gold sat within a 3.55-metre zone grading 31.56 grams per tonne.

Ten of the latest holes tested Iceberg, but the headline hit was the only noteworthy encounter. Four of the 10 holes were duds, failing to intercept any mineralization. The rest returned a few grams of gold per tonne across intersections of a few metres -- extending the area of interest, but without the results that get the market enthused.

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