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by Stockwatch Business Reporter

New York spot gold lost $14.50 to $1855.50 on Friday. The TSX Venture Exchange index managed an 8.22-point gain to 947.43 while the TSX gold index fell 1.38 points to 310.90. Victoria Gold Corp. (VGCX) was enthusiastic in retreat today, dropping 36 cents to $12.45 on 327,000 shares. There has been no news in two weeks.

Iamgold Corp. (IMG) bucked the trend, adding six cents to $4.40 on 1.91 million shares. It said late yesterday that a 264.5-metre interval drilled in the Gosselin zone of its Cote project, southwest of Timmins in Northern Ontario, averaged 0.94 gram of gold per tonne. That was just one of several long hits, a few of which topped the one-gram-per-tonne mark. A 164.3-metre hit returned 1.51 grams per tonne and a 202-metre zone managed 1.22 grams per tonne, but the best result was an 86-metre encounter that yielded 5.57 grams per tonne, aided by a 30.4-metre zone that averaged 14.7 grams per tonne.

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