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by Stockwatch Business Reporter

New York spot gold rose $4.40 to $4,064 as North American stock markets closed Wednesday. The TSX Venture Exchange added 0.52 point to 839 while the TSX gold index gained 4.44 points to 839.09. Most precious metals miners moved lower then recovered late in the day. Silvercorp Metals Inc. (SVM) fell seven cents to $12.03 on 1.3 million shares, while Novagold Resources Inc. (NG) lost 16 cents to $8.73 on 852,000 shares. There were a few in the green today, including Serabi Gold PLC (SBI), which added 33 cents to $3.50 on 56,000 shares.

Ken Armstrong's Westhaven Gold Corp. (WHN) lost one-half cent to 26.5 cents on 314,000 shares on new high-grade assays from infill drilling at the South Zone deposit of its Shovelnose project in Southern British Columbia. The headline hit among the 19 new tests was a 23-metre intercept averaging 6.69 grams of gold and 42 grams of silver per tonne at depth, while a second hole yielded 16.51 grams of gold and 134 grams of silver per tonne across a 5.53-metre run.

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