The overall CBOE Gold Index was flat, with seven of its 11 component stocks marking gains. Most percentage swings were slight, under 2 percent.
Hurting shares was the December gold contract falling $1.30 to $627.90 an ounce on the New York Mercantile Exchange.
BMO Capital markets analyst Geoff Stanley also downgraded Barrick Gold, the world's largest gold producer, to "Market Perform" from "Outperform." In a research report, Stanley wrote that he is cutting his target price to $38 from $42, due to expectations of higher 2007 cash costs and weakening medium-term production.
Barrick's U.S.-listed shares lost 47 cents to $30.40 on the New York Stock Exchange.
Canadian gold miner Kinross Gold Corp. said it's buying competitor Bema Gold Corp. in an all-stock deal valued at $3.1 billion. Kinross' U.S.-listed shares fell $1.07, or 8 percent, to $12.19 on the NYSE.
Bema's U.S.-listed shares jumped 52 cents, or 10.9 percent, to $5.30 on the NYSE, outside the index.
Among other big gainers in the index, U.S.-listed shares of South Africa-based miner Gold Fields Ltd. rose 43 cents, or 2.5 percent, to $17.90 on the NYSE.
Meridian Gold inc.'s stock added 63 cents, or 2.4 percent, to $26.43 on the NYSE.
