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by Stockwatch Business Reporter

New York spot gold fell $46.90 Wednesday, pausing at $4,440.20. The TSX Venture Exchange lost 27.90 points to 1,005 while the TSX gold index dropped 23.96 points to 841.07. Most precious metals moved lower, some in a hurry. One of those was Jaguar Mining Inc. (JAG), which fell 63 cents to $6.21 on 294,000 shares today. Another was Taseko Mines Ltd. (TKO), which fell 67 cents to $10.82 on 1.64 million shares.

David Rae's DPM Precious Metals Inc. (DPM) bucked the downdraft, adding $1.46 to $47.43 on 1.44 million shares, but it did so aided by news. The company has "a major new discovery of high-grade, gold-copper porphyry mineralization" at the Brevene South porphyry target, on the southeastern part of its Brevene project in Bulgaria. The headline drill hits include a 713-metre interval that graded 1.31 grams of gold per tonne and 1.16 per cent copper, although the top of the zone was at a downhole depth of nearly 1,500 metres.

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