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by Stockwatch Business Reporter

New York spot gold retreated today after Tuesday's big surge, ending the day down $65.20 to $3,367.30. The TSX Venture Exchange rose 1.71 points to 667.26 while the TSX gold index fell 3.10 points to 483.02. Iamgold Corp. (IMG) fell 58 cents to $9.60 on 8.39 million shares following its first quarter results. Kinross Gold Corp. (K) had a better first quarter apparently, as it added 62 cents to $21.62 on 9.54 million shares on its news.

Brodie Sutherland's Tocvan Ventures Corp. (TOC) slid six cents to 62 cents on 143,000 shares on word it has drilled another high-grade corridor at its Gran Pilar project in Sonora, Mexico. The latest intercept, which came from the South Block Expansion zone, returned a 41.2-metre near-surface zone grading one gram of gold and 10 grams of silver per tonne, expanding the known mineralization to the north. The hit included a 6.1-metre subinterval that averaged 5.4 grams of gold and 39 grams of silver per tonne.

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