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by Stockwatch Business Reporter

New York spot gold continued its retreat Wednesday, withdrawing to an early morning low of $4,129, rebounding a bit, but taking its afternoon break at $4,066.80, down $192.20 on the day. The TSX Venture Exchange lost 20.89 points to 912.17 while the TSX gold index shed 38.84 points to 735.01. Most precious metals miners moved lower today. Lundin Gold Inc. (LUG) shed $3.21 to $73.09 on 1.1 million shares and Iamgold Corp. (IMG) dropped 84 cents to $20.69 on 4.25 million shares. GoGold Resources Inc. (GGD) did its best to be a renegade, but it succumbed to gravity later in the day, losing 11 cents to $3.04 on 6.72 million shares.

Makko DeFilippo's Ero Copper Corp. (ERO) lost 59 cents to $35.91 on 420,000 shares on word that it has drilled into a broad zone of continuity at its Furnas copper and gold project in Para, Brazil. No, there is no spot price for continuity, but that is what promoters and geologists often tout when their assays are ho-hum affairs. In this case, the headline hole from another 24,000 metres of drilling returned a 90-metre intercept grading 0.5 gram of gold and 3.18 grams of silver per tonne, along with 0.74 per cent copper.

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