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by Stockwatch Business Reporter

New York spot gold lost $0.70 to $2,035.90 on Wednesday. The TSX Venture Exchange fell 8.42 points to 550.36 while the TSX gold dipped 1.01 points to 261.27. New Gold Inc. (NGD) was up again today, as it added two cents to $1.62 on 2.16 million shares. Today's rise follows Tuesday's 10-cent gain on 5.85 million shares, but remember that it had dropped 16 cents Monday on 9.12 million shares. The last news, meanwhile, came three weeks ago.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) found three cents to reach $4.31 on 189,000 shares following word of new assays from the K2 zone on its Queensway project, west of Gander in north-central Newfoundland. The hits included a seven-metre near-surface interval grading 27.5 grams of gold per tonne in one hole and 8.69 grams per tonne across 12 metres in a near-surface zone in a second hole among the 29 new tests with results today.

As usual with Queensway assays, the headline hit was padded by a 0.5-metre bonanza-grade interval that ran 370 grams per tonne, and which left the other 6.5 metres with just 1.15 grams per tonne. Again, as usual, there were two other three-digit gold subintervals in other holes. (A third subinterval came close -- 90.69 grams per tonne over 0.65 metre in the second noteworthy hole.)

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