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by Stockwatch Business Reporter

New York spot gold fell $15.90 to $1,930.10 on Thursday. The TSX-V lost 1.48 points to 621.14 while the TSX gold slid 5.88 points to 310.55. Most Canadian gold miners lost ground today, with the retreat led by Novagold Resources Inc. (NG), which lost 68 cents to $8.63 on 395,000 shares, and by Torex Gold Resources Inc. (TXG), which fell 38 cents to $18.57 on 496,000 shares.

Justin Reid's Troilus Gold Corp. (TLG) fell one cent to 71 cents on 564,000 shares on word it has drilled a 29-metre interval averaging 3.9 grams of gold and 2.9 grams of silver per tonne, plus 0.32 per cent copper, in the Connector zone at its Troilus project in north-central Quebec. The zone, which averaged 4.33 grams of gold equivalent per tonne, got a boost from an 18-metre interval averaging 6.37 grams of gold equivalent per tonne. The second of the two new holes yielded lower grades over narrower intervals, but they also occurred at shallower depths.

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