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by Stockwatch Business Reporter

New York spot gold fell -- oh dear! -- $233.10 Tuesday, taking a break at $5,089.20. It could have been worse, as bullion which reached $5,420 in the wee hours of Monday, slid as low as $4,996 barely 24 hours later. No surprise then that the indices took beatings: The TSX Venture Exchange slumped 41.37 points to 1,076.23, while the TSX gold index crashed 91.02 points to 1,013.43. Several golds listed in Canada lost over 10 per cent of their value today: Americas Gold and Silver Corp. (USA) shed $1.42 to $12.30 on 3.27 million shares, while Silver X Mining Corp. (AGX) fell 15 cents to $1.05 on 2.92 million shares.

Joseph Ovsenek's P2 Gold Corp. (PGLD) picked a tough day for new assays, as it lost 10 cents to 89 cents on 1.79 million shares. A 54.86-metre interval returned 0.71 gram of gold per tonne and 0.31 per cent copper from infill and expansion drilling in the Lucky Strike zone at its Gabbs project, in the Walker Lane district of Nevada. The intercept included a 22.86-metre stretch that graded 1.28 grams of gold per tonne and 0.43 per cent copper.

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