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by Stockwatch Business Reporter

New York spot gold lost $22.70 to $2,888.80 on Monday. The TSX Venture Exchange lost 19.56 points to 594.74 while the TSX gold index fell 8.81 points to 405.37. Most gold miners listed in Canada followed bullion lower today. Lundin Gold Inc. (LUG) led the retreat with a decline of $3.27, ending the day at $40.23 on 1.53 million shares. There is nothing new to drive the decline -- so to speak -- but remember that Lundin Gold traded as low as $37.86 last week. Franco-Nevada Corp. (FNV) bucked the trend, adding $1.46 to $207.23 on 1.21 million shares, also without news.

Gilbert Clark's Meridian Mining UK Societas (MNO) was strong, jumping 10.5 cents to 59 cents on 6.02 million shares -- but it had news. The company has a prefeasibility study for its Cabacal project in Brazil, which is now based on a reserve of 41.7 million tonnes grading 0.63 gram of gold and 1.64 grams of silver per tonne plus 0.44 per cent copper -- about 850,000 ounces of gold, 2.19 million ounces of silver and 405 million pounds of copper.

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