BullMarketRun.com

Gold continues to be choppy and has traded in a range of $1,159 to $1,170 so far today…as of 8:30 am Pacific time, Gold is down $1 an ounce to $1,160…Copper has climbed to a 12-week high ($3.28 U.S. per pound) which is an encouraging sign as far as the world economic picture is concerned…the CDNX is up another 3 points to 1414…the Index has posted gains in 11 of the past 14 trading sessions and its 20-day moving average is set to swing positive which bodes well for the month of August…what has been most impressive about the move in the CDNX over the past few weeks is that it has occurred while Gold has travelled in the opposite direction…being a reliable leading indicator, the CDNX is likely telling us that Gold is nearing a bottom and should strengthen significantly in the near future…Gold is entering a period of seasonal strength which normally begins by about mid-August…Gold Bullion Development (GBB, TSX-V) is unchanged at 53 cents…it’s a “wait and see” game for investors with GBB as the company continues to aggressively drill the LONG Bars Zone with initial assay results expected in the near future as stated in the most recent news release (which was quite bullish in its tone) July 13…Gold Bullion has been gaining some technical strength recently which is certainly an encouraging sign…Sidon International (SD, TSX-V) is active this morning, up 2 pennies to 12.5 cents on nearly 4 million shares…the rest of the BMR Portfolio is quiet…Seafield Resources (SFF, TSX-V) is off a penny to 16 cents…initial drill results out of Miraflores are expected around the middle of August…the market will be looking for evidence that Seafield can increase the 43-101 inferred resource at Miraflores by at least 25% to 1 million ounces…the company will likely bring in a 2nd rig to Quinchia to begin drilling Dos Quebradas by around the end of next month…drilling at Miraflores may not conclude until the end of September…as Seafield proves up more ounces at Quinchia, as we suspect it will, the stock should break out of its doldrums…