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by Stockwatch Business Reporter

New York spot gold dipped $17.60 to $4,811.80 on Monday, continuing its two-week-old flattish stretch. (Plateaus can be good: Yes, gold bugs will be longing for the days of late January when bullion topped $5,600, but not for those of late March, when it dipped below $4,100.) The TSX Venture Exchange added 9.67 points to 1,065 while the TSX gold index shed 15.50 points to 961.48, so most precious metals miners moved lower today. West Red Lake Gold Mines Ltd. (WRLG) dropped five cents to $1.09 on 3.47 million shares, while Avino Silver & Gold Mines Ltd. (ASM) lost 21 cents to $10.41 on 1.73 million shares.

Eric Sprott's New Found Gold Corp. (NFG) gained 18 cents to $3.14 on 3.97 million shares on word that it has rejigged its financing for the Queensway project in north-central Newfoundland. Gone is the planned $75-million (U.S.) loan facility the company arranged in early March, which was to have supported the company's push to put its phase I plan for Queensway into production on schedule.

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