BullMarketRun.com

Gold is getting hit hard today…as of 8:30 am Pacific time, the yellow metal is off $20 an ounce to $1,162…this is hardly a surprise…Gold is testing strong technical support, as we predicted it likely would, between a range of $1,140 and $1,180…physical buying should also help keep Gold from falling below $1,140…what’s interesting, and a clue that Gold is probably close to bottoming out, is that the CDNX has been moving in the opposite direction of Gold over the last few weeks…the CDNX has been up 10 of the last 12 sessions…after climbing a few more points in early trading today, the Venture is now off 3 points at 1401 in sympathy with some weakness in New York and Toronto…given the drop in Gold, however, the Venture is holding up very well…Gold Bullion Development (GBB, TSX-V) is trading within a range of 53 to 57 cents this morning on strong volume…after 2 hours of trading it’s down a penny to 54 cents…Richfield Ventures (RVC, TSX-V) is unchanged at $1.35…the company came out with very good results yesterday from its Blackwater Gold Project in central British Columbia…a second rig is expected to be drilling at Blackwater within the next couple of weeks which will speed up what has been a slow drilling process since April…Fire River Gold (FAU, TSX-V) has completed a $5.5 million financing and announced this morning that a 28,000 metre drill program has commenced at its Nixon Fork Gold Mine in Alaska…initial drilling will focus on surface targets, particularly lateral or downplunge extensions of known mineralized zones, before shifting to underground drilling…Fire River is up 2 pennies to 60 cents…it’ll be a very busy summer for Fire River…Sidon International (SD, TSX-V) is up half a penny to 11 cents…the stock continues to digest its recent large gains and should find strong technical support around 10 cents as it unwinds its overbought condition…