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by Stockwatch Business Reporter

New York spot gold added $24.20 to $4,729.40 on Wednesday, not much of a jump considering that the benevolent rulers of Iran have agreed to allow safe passage through the Strait of Hormuz -- under the watchful eye of their military, of course. The markets fared better, as the TSX Venture Exchange leapt 13.88 points to 982.58 while the TSX gold index surged 25.24 points to 962.47.

There were plenty of noteworthy northward leaps today. Taseko Mines Ltd. (TKO) jumped 60 cents to $9.99 on three million shares in silence, while Orosur Mining Inc. (OMI) hopped 2.5 cents higher, ending its day at 34 cents on 219,000 shares. Gold producers that are heavy into copper fared the best, with Hudbay Minerals Inc. (HBM) surging $2.50 to $32.89 on 5.8 million shares, also on the quiet.

Joseph Ovsenek's P2 Gold Inc. (PGLD) rose 4.5 cents to 70 cents on 1.84 million shares on word it has drilled a 48.77-metre near-surface interval grading 0.9 gram of gold per tonne and 0.34 per cent copper in the Lucky Strike zone of its Gabbs project in the Walker-Lane district of Nevada. A 21.3-metre midsection of that zone ran 1.61 grams of gold per tonne and 0.49 per cent copper.

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