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by Stockwatch Business Reporter

New York spot gold lost $5.40 to $1,901.40 on Tuesday. The TSX Venture Exchange fell 7.59 points to 589.48 while the TSX gold index dropped 7.12 points to 266.09. Most Canadian gold miners moved lower again today. Franco-Nevada Corp. (FNV) fell $5.34 to $185.66 on 848,000 shares despite a week-long silence. Barrick Gold Corp. (ABX), also uncustomarily silent for nearly a week, lost 81 cents to $21.61 on 5.66 million shares.

Newmont Corp. (NGT) was also down, but it had news. Newmont has received approval from the Korea Fair Trade Commission for its proposed acquisition of Newcrest Mining Ltd. One might wonder what the Koreans have to do with approving the acquisition of an Australia-based company by a Denver-based corporation, but such is the life of a gold miner with operations in many countries. Just two weeks ago the merger got approval from the regulators in Papua New Guinea, and the two beaus-to-be are awaiting the nod from the bureaucrats in Australia, Japan and the Philippines. Newmont lost $1.29 to $51.87 on 336,000 shares today.

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