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by Stockwatch Business Reporter

New York spot gold slid $53.70 Friday, closing at $3,272.80. The TSX Venture Exchange fell 4.53 points to 724.26 while the TSX gold index slumped 18.68 points to 483.86. Yes, the gold index recently reached a record high, but it has been hard to lift and easy to drop, managing to edge past its 2011 high less than a month ago, despite bullion's doubling since then thanks to its great bull run. Agnico Eagle Mines Ltd. (AEM) took one of the bigger hits today, falling $8.82 to $159.08 on 2.67 million shares. Kinross Gold Corp. (K) tumbled as well, falling $1.24 to $20.37 on 9.03 million shares.

James Tworek's Element79 Gold Corp. (ELEM) closed unchanged at 2.5 cents on 101,000 shares on word that it has provided a notice of force majeure to Condor Resources Inc. (CN), temporarily suspending payments required under an agreement covering the Lucero project in the Arequipa district of Peru. Literally, "force majeure" translates from French to "superior force" but it implies "act of God" -- which in turn refers to some big, usually quite ungodly act, that can prevent a company from fulfilling the terms of a contract.

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