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by Stockwatch Business Reporter
New York spot gold rose $4.40 Friday, closing at $1,747.20 in a continuing game of one step forward, one step backward. Bullion, which briefly broke the $2,000-(U.S.)-an-ounce mark a year ago, has been cycling listlessly around the $1,800-(U.S.) mark this year. The TSX Venture Exchange dipped 5.85 points to 876.13 while the TSX gold index lost 0.77 point to 265.32. Most Canadian gold miners stayed close to Thursday's close. Barrick Gold Corp. (ABX) edged lower, dipping 16 cents to $22.84 on 4.14 million shares. Kirkland Lake Gold Ltd. (KL) went the other way, adding 42 cents to $53.89 on 1.57 million shares.
Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) had its best day since late spring, adding $1.04 to $8.70 on 878,000 shares. News drove the rally today, but it was word that the company expects to get a NYSE American stock exchange listing late this month, not applause for another batch of bonanza-grade assays, that did the driving. The NYSE American listing will be a step up from the company's current perch on the OTC Markets board.
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