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by Stockwatch Business Reporter

New York spot gold lost $43.40 Friday, ending the week at $4,428.70. The TSX Venture Exchange followed bullion southward, dropping 6.6 points to 965.4, while the TSX gold index slipped 14.42 points, ending the day at 965.4. Silvercorp Metals Inc. (SVM) lost 86 cents to $17.22 on 690,000 shares today, just one of a gaggle of gold and silver miners to lose some ground. Another was Equinox Gold Corp. (EQX), which fell 32 cents to $17.75 on 3.75 million shares. Dundee Corp. (DC.A) did inch upward, adding 22 cents to $5.47 on 485,000 shares.

Ronald Coombes's Providence Gold Mines Inc. (PHD) slid 1.5 cents to four cents on 30,000 shares. The company is cheering a series of high-grade assays from the Tarantula mine, at its La Dama de Oro gold property in California. The sampling -- trenching of an old stockpile -- produced a three-metre stretch grading 8.5 grams of gold per tonne in the North trench. The South trench produced 2.9 grams of gold per tonne across a 1.2-metre run, while the third trench, also in the northern area, averaged 5.1 grams per tonne over a three-metre run.

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