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by Stockwatch Business Reporter

New York spot gold reclaimed $17.80 to $1,702.90 on Friday. North American markets moved lower again today, but the TSX-V bucked the trend, gaining 1.35 points to 473.09. The TSX gold index also did well, surging 15.36 points to 342.27. Gold's rising tide lifted most Canadian gold miners, with Barrick Gold Corp. (ABX) adding $2.04 to $37.87 on 8.84 million shares, but Eldorado Gold Corp. (ELD) sprung a leak on word late Thursday that it had lost $5.47-million (U.S.) in its first quarter. Eldorado ended the day down 19 cents to $13.08 on 3.35 million shares.

Darin Wagner's Balmoral Resources Ltd. (BAR) added 2.5 cents to 52 cents on 2.7 million shares on word that it hit a 2.97-metre interval averaging 308 grams of gold per tonne at its Fenelon property in northwestern Quebec. The bonanza-grade hit turned up in the Reaper zone, a new discovery along the western margin of the Area 51 intrusion, on the southern portion of Fenelon. The company is enthused by this find, as just to the east, Wallbridge Mining Co. Ltd. (WM) is working its high-grade Tabasco zone on the eastern margin of the intrusion.

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