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by Stockwatch Business Reporter

New York spot gold fell $9.10 to $1,916.50 on Wednesday. The TSX Venture Exchange fell 9.7 points to 584.81 while the TSX gold index dropped 0.45 point to 268.77. Most Canadian gold miners stayed close to home today. Barrick Gold Corp. (ABX) fell 12 cents to $21.60 on 3.18 million shares while Kinross Gold Corp. (K) dropped four cents to $6.60 on 2.39 million shares.

There was little news from the miners, although West Red Lake Gold Mines Ltd. (WRLG) did slide five cents to 46 cents on 939,000 shares following word it has begun drilling at Wedge, a target just two kilometres southwest from its Madsen mine in the Red Lake area of Northwestern Ontario. West Red acquired Madsen this spring through a fire sale after its previous owner, Pure Gold Mining Inc., went bankrupt trying to make a go of what was a resurrection of a former producer.

Tara Christie's Banyan Gold Corp. (BYN) closed unchanged at 30.5 cents on 138,000 shares on word it has drilled a 16.1-metre interval averaging 1.66 grams of gold per tonne in the Powerline deposit at its AurMac project in central Yukon. The assays are from another 13 holes drilled in the southern portion of Powerline, an area tested previously to just shallow depths. The latest holes, which reached average depths of about 235 metres, showed "additive mineralization" -- more gold -- in the deeper areas, the company says.

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