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by Stockwatch Business Reporter

New York spot gold rose $9.10 Friday, pausing for air at the rarified elevation of $3,642.30. The TSX Venture Exchange rose 3.9 points to 879.67 while the TSX gold index fell 2.54 points to 669.67. The TSX-V must be looking over its shoulder with concern, as the gold index is now within hailing distance and closing fast. Recall that in 2007, the TSX-V hit 3,327 points while the gold index was muddling along at with about one-10th of that value.

Most Canadian precious metals miners gained ground again today. Endeavour Silver Corp. (EDR) added two cents to $8.50 on 3.52 million shares despite being silent since mid-August. China Gold International Resources Corp. (CGG) did better in silence, adding 76 cents to $24.75 on 81,000 shares. Equinox Gold Corp. (EQX), on the other hand, fell 44 cents to $14.71 on 6.79 million shares.

Lost among all the mergers and acquisitions of late is the birth of a new gold miner. Mark Bristow's Barrick Mining Corp. (ABX), which fell 47 cents to $40.22 on 8.28 million shares today, is selling its Hemlo mine in Northern Ontario to Jonathan Awde and Jason Kosec's Carcetti Capital Corp. (CART.H: $0.82) for $875-million (U.S.) in cash and 34.6 million shares, along with another $165-million (U.S.) in contingent cash payments.

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