BullMarketRun.com

Gold has traded in a range of $1,315 to $1,330 so far today ahead of this weekend’s G-20 meeting of finance ministers and bank governors in South Korea…curriences will no doubt be the hot topic of conversation…in this war, no guns are fired and no enemies are killed…instead, each country tries to outdo the other with bigger and bigger money printing or devaluations…our guess is that some sort of  mushy statement about “cooperation” will come out of these meetings but any kind of publicly declared “truce” or  “joint effort” will soon be broken…support for Gold around $1,320 may not hold, as John outlined in his piece last night, but the downside from here is limited (most likely a bottom in the range of $1,273 to $1,300)…Gold’s overbought technical condition is in the process of unwinding which is a positive development and sets the stage for the next explosive move to the upside which is when the yellow metal will likely take a run at $1,500…as of 9:00 am Pacific, Gold is down $2 an ounce to $1,324…Silver is off 4 cents to $23.12 while the U.S. Dollar Index is up nearly a 10th of a cent to 77.57…the CDNX is performing extremely well in the face of Gold’s weakness and is about to register its 10th consecutive weekly advance…the Venture is currently ahead 8 points to 1869…the action in the Venture, a leading indicator, is important evidence that any additional weakness in Gold is likely to be limited…rumor has it that Gold Bullion Development (GBB, TSX-V) has indeed wrapped up its financing and official word should be coming any day now…GBB is off a penny at 56 cents….Currie Rose Resources (CUI, TSX-V) enjoyed a strong day yesterday, climbing 3 cents to 14.5 cents on volume of nearly 3 million after announcing some prospecting results and the start of drilling (beginning tomorrow) at its Sisu River Property in Tanzania…we started following Currie Rose last month when the stock was trading around the 10-cent level…what first attracted us to it was its impressive looking chart…what we have have since discovered is that this company has some properties of considerable merit in both Tanzania and Sudbury (a drill program is also just starting at CUI’s Scadding Property in Sudbury which TRM, TSX-V has an option on)…CUI is currently off half a penny to 14 cents for a modest total market capitalization of $11 million…as always, we suggest investors do their own due diligence…we will be continuing ours shortly as we are attempting to line up an audio interview on BMR with company President Harold Smith…Excel Gold Mining (EGM, TSX-V) is getting ready to commence another drill program at its Montauban Property in Quebec…EGM is off half a penny to 15.5 cents this morning and we’ll have more on Excel as part of our regular Week In Review feature over the weekend…