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by Stockwatch Business Reporter

New York spot gold reclaimed $25.10 to $1,964.70 on Thursday but the TSX Venture Exchange dropped 0.6 point to 611.68. The TSX gold index did follow bullion higher, adding 2.57 points to close at 292.80. The index got a hand from Kinross Gold Corp. (K), which gained 16 cents to $6.45 on 6.45 million shares, and from Centerra Gold Inc. (CG), which rose 19 cents to $8.06 on 1.21 million shares. Neither company had news to share today.

One that did was Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG), which rose five cents to $6.37 on 299,000 shares on word of new assays from the Iceberg discovery at its Queensway project in north-central Newfoundland. One of 15 new holes averaged nearly 26 grams of gold per tonne over 9.45 metres while a second returned 20.67 grams per tonne over 6.85 metres. Both intervals were padded by narrow bonanza-grade intervals as has often been the case at Queensway.

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