BullMarketRun.com

Gold has traded within a range of $1,222 to $1,233 so far today…as of 8:00 am Pacific, the yellow metal is down $4 per ounce at $1,224…this week marks the start of festival season in India…physical demand should strongly support Gold on any pullback…we see the floor for Gold at $1,200, give or take 1%, with a good chance for a new all-time high as early as next month…the CDNX is off 4 points this morning to 1476…the CDNX is looking very strong from a technical perspective and we believe it’s only a matter of time before it blasts through resistance around 1500…the CDNX’s 50-day SMA has turned positive, ending a 3-month decline…this is just one more bullish development after the Index hit a 2010 low of 1343 July 6…since that time, the CDNX has jumped 10% and has outperformed the broader markets and the TSX Gold Index…the CDNX continues to mirror the pattern of 2004 when it jumped 25% from its July low to the end of the year...Gold Bullion Development (GBB, TSX-V) is off to a strong start this week…Jordan Capital kicked things off again this morning as they were on the buy side in 11 of the first 13 trades, accumulating another 132,000 shares in just the first 4-and-a-half minutes…GBB got as high as 56 cents and as of 8:00 am Pacific it’s trading at 55 cents, up 2 pennies on the day, on volume of over 600,000 shares…Richfield Ventures (RVC, TSX-V) is off a nickel to $1.60…the company has added a second drill rig at its Blackwater Project in central British Columbia and expects to release assay results on another 5 holes sometime next week…the stock has cooled off slightly over the past couple of weeks, allowing for an unwinding of its overbought condition…North Arrow Minerals (NAR, TSX-V) is waiting for approval of a drill permit before proceeding with drilling at its Lac de Gras diamond project in the Northwest Territories…news on that permit should come by month-end…Seafield Resources (SFF, TSX-V) is unchanged at 16.5 cents…we expect a strong final 4 months of the year for Seafield as drill results start flowing in and exploration ramps up at its highly prospective Quinchia Project in Colombia…we continue to keep a close watch on Excel Gold Mining (EGM, TSX-V) which is currently unchanged at 16.5 cents…a chart can often tell a lot about a company, and Excel’s chart is very revealing as this company has moved aggressively recently in developing its Montauban Mining Camp Project which is 120 kilometres west of Quebec City…