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by Stockwatch Business Reporter

New York spot gold retreated $26.20 to $2,155.60 on Tuesday. The TSX Venture Exchange fell 5.77 points to 553.57 while the TSX gold index dropped 5.25 points to 272.30. Most Canadian gold miners retreated today with bullion, a few with more gusto than others. Novagold Resources Inc. (NG) fell 24 cents to $3.33 on 380,000 shares while Newmont Corp. (NGT) lost $1.83 to $45.72 on 471,000 shares.

Ewan Webster's Thesis Gold Inc. (TAU) closed unchanged at 47 cents on 1.73 million shares on word that it has drilled a 20-metre near-surface interval grading 8.46 grams of gold and 36.96 grams of silver per tonne plus 1.72 per cent copper. The hit came from the Bingo zone at its Ranch project in the Toodoggone district of Northern British Columbia. A higher-grade portion padded the result, as a five-metre subinterval graded 20.6 grams of gold and 95 grams of silver per tonne plus 4.75 per cent copper.

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