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by Stockwatch Business Reporter

New York spot gold fell $12.50 to $1,923.90 on Tuesday. The TSX Venture Exchange fell 8.06 points to 607.66 while the TSX gold index lost 2.67 points to 272.24. Most Canadian gold miners moved lower, leaving the 10-cent gain posted by Kinross Gold Corp. (K) as an anomaly. (Kinross ended the day at $6.74 on 11.57 million shares.) Torex Gold Resources Inc. (TXG), down 80 cents to $15.91 on 624,000 shares, and Newmont Corp. (NGT), down $1.32 to $53.41 on 381,000 shares, helped drive the retreat.

Simon Marcotte's Northern Superior Resources Inc. (SUP) closed unchanged at 39 cents on 172,000 shares. The company has a resource estimate for the Philibert project, southwest of Chibougamau in north-central Quebec. This is a maiden open-pittable calculation, although the company had a modest underground resource previously. The new estimate lists 48.46 million tonnes indicated at 1.1 grams of gold per tonne and another 7.88 million tonnes inferred at the same grade, good for two million ounces of gold.

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