The TSX started off a shortened trading week in the red, down 3.27 points to 11,518.08, but well off its worst levels of the day, while the TSX Venture gave back 3.24 points to end the day at 1,450.15, as the oil price lost ground.

Gold for June delivery added $4.00 to $1,198 an ounce, and the TSX Global Gold index climbed 3.7%, as did several gold stocks including New Gold (TSX: T-NGD), up 13.1%, Eldorado Gold (TSX: T-ELD), which climbed 7.1% and Yamana Gold (TSX: T-YRI), which jumped 5.7%.

The U.S. dollar also moved higher against the Canadian dollar, as investors reportedly continued to look for a safe haven in light of the debt crisis in parts of the euro zone.

Meanwhile, crude for July delivery slid 2.1% to $68.75 a barrel. The TSX energy sector lost 1.45%.

On the TSX, shares of Intrepid Mines (TSX: T-IAU) climbed seven cents to 46 cents, as the company said that diamond drill hole GTD-10-146, located within the main Tumpangpitu Prospect at the Tujuh Bukit Project, has intersected additional significant copper, gold and molybdenum in a zone of high sulphidation overprinting porphyry mineralisation.

Golden Queen Mining (TSX: T-GQM) announced that a private land-holder and a regulatory agency of the State of California have withdrawn their respective appeals of the Kern County Planning Commission's decision to approve the Soledad Mining project. Shares of Golden Queen added 17 cents to $1.50.

And, Exeter Resource Corporation (TSX: T-XRC) gained 16.7% to $7.89, as the company said that drilling is continuing to expand the high grade zone within the Caspiche deposit in Chile. The company says drill hole CSD062 intersected 624m at 0.85 g/t gold and 0.28% copper from a depth of 424m, and drill hole CSD063 intersected 868m at 0.60 g/t gold and 0.33% copper from a depth of 404m.

On the Venture, Genoil (TSX: V-GNO) updated its shareholders on its sand decontamination & oil water separation technologies, which it says “address all the oil spill contamination emergencies in the Gulf of Mexico including the beaches, and the Louisiana marshlands.” Genoil says BP has shown interest in its cleanup solutions and is in discussions with Genoil regarding the disaster in the Gulf of Mexico. Shares of Genoil jumped 11.5 cents to 23 cents.

Also on the move, Theratechnologies (TSX: T-TH) slid 52% to $2.09, and First Quantum Minerals (TSX: T-FM) fell 11.8% to $55.36.