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by Stockwatch Business Reporter

New York spot gold fell $12.10 to close at $2,608.20 on Monday while the TSX Venture Exchange lost 4.47 points to 593.40 and the TSX gold index dropped 6.81 points to 334.34. Most Canadian gold miners were in retreat today. Novagold Resources Inc. (NG) shed 13 cents to $4.69 on 252,000 shares today while Endeavour Silver Corp. (EDR) lost 22 cents to $5.11 on 1.44 million shares.

Paul Matysek and Collin Kettell's Nevada King Gold Corp. (NKG) added one cent to 28.5 cents on 192,000 shares. The company is busy with a phase III drill program at its Atlanta gold project in east-central Nevada. The program follows a 450-hole, 84,000-metre second phase that took two years to complete. The last of those phase II assays arrived early this month with the usual encouragement, most recently from the North Extension Target zone that yielded one of the highest-grade hits yet, and from the East Ridge Target zone, which yawned up some "anomalous" grades.

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