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by Stockwatch Business Reporter

New York spot gold added $8.20 to $3,019.70 on Tuesday. The TSX Venture Exchange rose 2.87 points to 646.63 while the TSX gold index jumped 5.92 points to 445. Eldorado Gold Corp. (ELD) helped lead the northbound drive, adding $1.20 to $23.70 on 955,000 shares. Orezone Gold Corp. (ORE) also did well, adding seven cents to 95 cents on 718,000 shares. Novagold Resources Inc. (NG) struggled, dipping 22 cents to $4.43 on 955,000 shares today.

Collin Kettell and Eric Sprott's New Found Gold Corp. (NFG) began Monday strong but it sagged as the day dragged on. The stock ended the session down 20 cents to $2.45 on 2.15 million shares -- its highest volume in over three years -- as a bad case of jitteritis appeared to set in. After the close, the diagnosis was confirmed, as the company revealed its long-awaited resource estimate for its Queensway project in north-central Newfoundland. In all, the maiden calculation lists 18 million tonnes indicated at 2.4 grams of gold per tonne and 10.7 million tonnes inferred at 1.77 grams per tonne, exactly two million ounces of gold in all.

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