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by Stockwatch Business Reporter

New York spot gold added $10.70 today, ending the day at $3,324.50. The TSX Venture Exchange dropped 11.85 points to 777.58 while the TSX gold index regained 8.08 points to 517.90. New Gold Inc. (NGD), down 36 cents following its latest quarterly report on Monday, reclaimed 25 cents to $5.94 on 4.86 million shares today. New Found Gold Corp. (NFG), a $2 stock in mid-July that spurted to $2.55 last week on a preliminary economic assessment of its Queensway project, returned more of the gain today, dropping another four cents to $2.24 on 358,000 shares.

Frazer Bourchier's Mandalay Resources Corp. (MND) jumped 24 cents to $5.10 on 371,000 shares on word it has hit a new high-grade gold trend in the Brunswick South extension of its Costerfield mine in Australia. Three holes tested the area and all of them hit the high-grade veining. The headline encounter produced 265 grams of gold per tonne across a true width of 0.17 metre, while a second managed 76.6 grams per tonne over 0.44 metre and the third ran 52.3 grams per tonne over a true width of 1.58 metres.

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