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by Stockwatch Business Reporter

New York spot gold lost $23.90 to $1,876.50 on Wednesday. The TSX Venture Exchange fell 7.04 points to 550.01 while the TSX gold index fell 9.16 points to 252.02. Most Canadian gold miners moved lower with bullion. Agnico Eagle Mines Ltd. (AEM) slid $2.52 to $61.03 on 2.35 million shares while West Red Lake Gold Mines Ltd. (WRLG), which got as high as 79 cents yesterday, dropped six cents to 68 cents on 4.29 million shares today.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) rose one cent to $5.59 on 156,000 shares. The company has new assays from Keats West, which the company applauds as a (not so) recently discovered zone on the western side of the Appleton fault zone, at its Queensway project in north-central Newfoundland. (Lately, most of the news has come from Iceberg, on the eastern side of the fault, while most of the bonanza-grade encouragement at Queensway has come from between the two areas, at Keats Main, Lotto and Golden Joint.)

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