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by Stockwatch Business Reporter

New York spot gold rose $1.60 to $1,739.80 on Tuesday. The TSX-V added 5.23 points to 576.38 while the TSX gold index rose 8.52 points to 268.79. Most Canadian gold miners opened optimistically. Iamgold Corp. (IMG) opened higher and held its gains, ending the day up 17 cents to $2.63 on 2.55 million shares. Today's rising tide left Endeavour Mining PLC (EDV) behind at first, but it staggered 44 cents higher later on, reaching $27.55 on 562,000 shares.

One miner had a good day on solid exploration news late Monday. Ron Hochstein's Lundin Gold Inc. (LUG) jumped $1.80 to $12.92 on 922,000 shares on word it has drilled a 163.2-metre interval averaging 10.76 grams of gold and 7.1 grams of silver per tonne at Fruta del Norte in southeastern Ecuador. The long hit included a 28.6-metre stretch that averaged 49.83 grams of gold and 22.16 grams of silver per tonne. That was the paydirt, as the other 134.6 metres averaged just 2.46 grams of gold and 3.9 grams of silver per tonne.

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