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by Stockwatch Business Reporter

New York spot gold rose $8.20 Friday, closing at $2,743.50. The TSX Venture Exchange dipped 1.16 points to 619.91 while the TSX gold index dropped 5.55 points to 391.36 -- the dash to 416 points earlier this week apparently being too much for the gloomy market to bear despite bullion's bullish trend. Barrick Gold Corp. (ABX) helped lead the retreat, as it fell 89 cents to $27.26 on 7.82 million shares. Endeavour Mining PLC (EDV) was strong, as it added 24 cents to $32.81 on 580,000 shares.

Frank Callaghan's Golden Cariboo Resources Ltd. (GCC) lost one cent to 22 cents on 253,000 shares on word it has sold seven million shares at 18 cents apiece, raising $1.26-million. This is handily above the $1.08-million the company set out to raise just a week ago -- an increase that Mr. Callaghan, president and chief executive officer, credits to "overwhelming demand." (Demand will of course overwhelm supply if you set the price low enough: Golden Cariboo traded for an average of 21 cents per share over the month prior to the placement.)

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