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by Stockwatch Business Reporter

New York spot gold fell $22.20 to $2,005.40 on Wednesday. The TSX Venture Exchange was along for the ride, falling 4.26 points to 553.98 while the TSX gold index lost 6.49 points to 259.27. Most Canadian gold miners moved lower with bullion, some taking bigger steps than others.

Michael Steinmann's Pan American Silver Corp. (PAAS) fell $1.33 to $18.51 on 1.33 million shares -- but it had news. The company began the day with word it produced nearly 883,000 ounces of gold last year, squeaking above the lower limit of its guidance. Pan American also produced 20.4 million ounces of silver, missing the lower end of guidance.

Matt Badylak's Galiano Gold Inc. (GAU) fell seven cents to $1.29 on 197,000 shares on word it produced -- and sold -- just over 134,000 ounces of gold last year at its currently 45-per-cent-owned Asanko gold mine in Ghana. (Late last year, Galiano reached an agreement with Gold Fields Ltd. to acquire that company's 45-per-cent interest in the mine in exchange for $20-million (U.S.) in Galiano stock. The Ghanian government owns the remaining 10 per cent of Asanko.)

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