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by Stockwatch Business Reporter

New York spot gold rose $6.50 to $2,177.10 on Tuesday. The TSX Venture Exchange rose 1.57 points to 548.47 while the TSX gold index dipped 0.37 point to 275.21. Most gold miners gained ground on Canadian exchanges today. Capstone Copper Corp. (CS), a gold byproduct producer, rose 23 cents to $8.20 on 2.71 million shares. Novagold Resources Inc. (NG) was strong today after three southbound sessions, adding 19 cents to $3.65 on 599,000 shares. Galiano Gold Inc. (GAU), on the other hand, lost six cents to $1.76 on 183,000 shares.

Collin Kettell and Denis Laviolette's New Found Gold Corp. (NFG) rose eight cents to $4.63 on 152,000 shares on word it has expanded a new discovery that it calls Iceberg Alley, about one kilometre northeast of the original Iceberg discovery and about 500 metres northeast of Iceberg East on its Queensway project in Newfoundland. The headline hit returned 186.71 grams of gold per tonne across 2.55 metres, although without the 632.42 grams per tonne across 0.75 metre, the remaining 1.8 metres of the bonanza-grade sandwich averaged just one gram per tonne.

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