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by Stockwatch Business Reporter

New York spot gold took another hit, tumbling $48.50 to $3,238.80 on Thursday. Bullion was just shy of $3,500 barely a week ago. The TSX Venture Exchange lost 7.47 points to 646.15 while the TSX gold index slid 16.32 points to 457.44. Most gold miners listed in Canada fell with gold today. Not the copper-based ones -- most of those moved higher. Ivanhoe Mines Ltd. (IVN) jumped $1.21 to $13.45 on 7.08 million shares to lead the way. Torex Gold Resources Inc. (TXG), on the other hand, fell $1.68 to $42.97 on 615,000 shares.

Alamos Gold Inc. (AGI) took the biggest hit. It slid $3.79 to $35.62 on 7.66 million shares after producing some gloomy news. The company's first quarter adjusted net earnings were only slightly higher than a year ago, despite it averaging nearly $750 (U.S.) per ounce more for its gold than it did a year earlier. Production, you see, barely met the low end of its quarterly guidance, while costs were above projections. Worry not, the company says, it expects to meet its production guidance for the year while its costs should diminish.

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