BullMarketRun.com

Gold is stronger today, hitting a high of $1,441…as of 8:45 am Pacific, the yellow metal is ahead $13 an ounce at $1,437…Silver is 22 cents higher at $37.70 while the U.S. Dollar Index is off one-quarter of a point to 75.87…crude oil is firmer, up $1.51 a barrel to $105.78…new U.S. claims for unemployment benefits fell last week, generally in line with expectations and further evidence a material improvement in the labor market is underway…the all-important jobs report for March comes out tomorrow…unemployment claims have held beneath the 400,000 level that is generally associated with steady job growth three weeks in a row, with the four-week moving average below that mark for the fifth straight week…HSBC is cutting growth targets and raising inflation forecasts following dramatic rises in commodity prices that threaten the global recovery…HSBC chief economist Stephen King told CNBC, “Never before have we seen such large increases in the cost of raw materials so soon after the end of a deep and protracted recession in the Western world”…”It’s a marriage made in economic hell,” he wrote in a bearish note to investors…”Business and consumer confidence may currently be very high but they may not stay at these levels for very long.  Already, the Michigan consumer confidence survey has shown the third biggest decline in expectations since the series first began in 1978″…major markets continue to shrug off a wide variety of troubles including a continuing U.S. housing crisis, rising global inflation, debt problems, Middle East unrest, and the disaster in Japan…the Dow is up 6.7% for the quarter, its best quarter since 1999…the Fed has cheapened the Dollar and there appears to have been a flight to safety in the Dow this quarter…the S & P has gained 5.6%, its best first quarter since the more than 13% gain when the tech bubble was brewing in 1998…the CDNX is flat for the first quarter after very strong gains in the third and fourth quarters of last year…since the CDNX is an extremely reliable leading indicator, King’s comments cannot be taken lightly as this market seems to be telling us there could be problems down the road – just how soon we don’t know…the CDNX is currently up 6 points at 2292…it has shown impressive resilience this week after dropping below 2300 amid Gold’s four-day slide…the key thing to watch for in the CDNX is if it can close above 2330 on stronger volume for at least two consecutive days…there’s also the possibility by mid-to-late next week that the CDNX’s 20-day SMA could reverse to the upside…that is also an important technical event to watch for…so while we still remain cautious with the CDNX, and for good reason given a number of factors including the lower volume of late, there is the chance this market could ignite again very soon…quoting a very wise phrase from John, our chart expert, as investors we have to let the market tell us what it wants to do as opposed to telling the market what we think it should do…Gold Bullion Development (GBB, TSX-V) is off half a penny at 42 cents…the last two months have been difficult for GBB, in terms of its share price, but we encourage investors to keep focused on one very important dynamic which is the ever-increasing zone of mineralization at Granada…by this summer GBB will have a NI-43-101 resource estimate in its hands for the LONG Bars Zone and we believe that will be a game-changing event…we’re in the Gold bull market of a lifetime…the LONG Bars Zone is a potential multi-million ounce deposit, near-surface and in one of the best jurisdictions in the world for mining and exploration…yes, we wish there were more rigs on the property and even more money in the bank, but the Gold is there in abundance based on results to date and we’re certain the 43-101 will confirm that…Visible Gold Mines (VGD, TSX-V) has optioned the Joutel Property from Agnico-Eagle Mines (AEM, TSX)…Joutel is a former producer (it hosted the Eagle, Eagle Quest and Telbel Gold mines that combined for 1.1 million ounces between 1974 to 1993) and the property that launched Agnico-Eagle…to the best of our knowledge, this is the first time that Agnico-Eagle has optioned Joutel which likely has a lot to do with the fact that Robert Sansfacon is Visible Gold Mine’s senior geologist…we met Sansfacon during our trip to Rouyn-Noranda in January and he is a superb geologist and extremely well respected in the industry…he was with Lac Minerals for many years and played a key role in the discovery of Osisko’s (OSK, TSX) Malartic deposit…if anyone can unlock the value of Joutel, it’s Sansfacon…he must believe he can find extensions there…this is an extremely interesting development and it’s just another reason why we find Visible Gold Mines such an exciting opportunity…the company is armed with nearly $9 million in cash and has made it clear it intends to become a leader on the Gold exploration front in northwest Quebec…it has the business, geological and marketing expertise to do just that…Visible Gold Mines has a drill program in progress at Silidor, just a few kilometres west of Rouyn-Noranda, with another drill program underway shortly on ground optioned from Cadillac Mining (CQX, TSX-V) near Vantex Resources‘ (VAX, TSX-V) Moriss Zone Discovery…Visible Gold Mines has all the ingredients to develop into a major success story and we’ll be covering it in more detail in the coming days and weeks…technically, the stock’s 40-day SMA has reversed to the upside after being in decline since December…it appears the 50-day is about to reverse very soon as well, so a major turnaround here appears imminent after VGD got as high as 70 cents in early December…Visible Gold Mines is currently up 2 pennies at 41 cents on volume of 340,000 shares…Gold Canyon Resources (GCU, TSX-V) is up 4 cents at $3.34…there is growing speculation based on impressive results to date that GCU’s Springpole Project contains 5+ million ounces of Gold…do your due diligence on this one, folks, as quickly as possible because if those numbers prove out, Gold Canyon will be at much higher levels…GoldQuest Mining (GQC, TSX-V), which we haven’t mentioned for a while, is holding steady in the mid-30’s…investors are anxiously waiting for the first set of assay results from GoldQuest’s Escandalosa Property in the DR…Escandalosa is an exciting geological target and the company has an excellent chance to significantly increase resources there from 400,000 ounces to potentially 1 million ounces or more…GQC also has other projects of merit it’s developing in both the DR and Spain…Richfield Ventures (RVC, TSX-V) hit another new all-time high this morning of $7.60…the stock is currently up 29 cents at $7.50…we suspect funds have been aggressively accumulating recently…the stock is now up 525% since we introduced it to BMR readers in December, 2009…