BullMarketRun.com

Gold has traded in a range of $1,354 to $1,370 so far today…as of 8:25 am Pacific, the yellow metal is unchanged at $1,364…Silver is ahead 18 pennies to $26.88 while the U.S. Dollar Index continues to surge, up more than half a point to 80.96 and now at its highest level in over two months…there is very strong technical resistance at 82 on the Index as John pointed out in his article last night…Gold has been holding up extremely well in the face of a stronger U.S. Dollar and that certainly bodes well for the yellow metal…at BMR we believe the primary trend for the greenback is down…a higher Dollar also goes against the Fed’s determination to avoid a deflationary scenario in the United States…European finance ministers have backed a $112.2 billion aid package in order to shore up Ireland’s troubled banking sector and stem investors’ growing fear of a Euro Zone debt crisis…the broader markets are weak today which has spilled over into the CDNX, currently off 12 points at 2045 as of 8:25 am Pacific…the winning strategy with the CDNX over the last several months has been to accumulate on weakness…Gold Bullion Development (GBB, TSX-V) has more than doubled its Granada-area land package from 4,900 hectares to over 11,000 hectares…this was announced this morning, and at BMR we see this as a very positive development…this is just pure speculation on our part, but Gold Bullion may have picked up the extra ground on indications from GENIVAR that they are seeing something significant in the overall structure of the LONG Bars Zone…regardless, Gold Bullion is solidifying its position around what it calls “an emerging mining camp”…what we also found interesting is that GBB made reference to “recent prospecting” (we assume by Adventure Gold, AGE, TSX-V) that has also demonstrated “new potential going west”…things appear to be heating up around Granada…GBB is currently up a penny at 67 cents…Currie Rose Resources (CUI, TSX-V) is taking a bit of a breather today after a powerful move last week (67%)…CUI is currently off 3 pennies to 34.5 cents…the chart shows strong technical support in the low 30’s near the 2008 high…last week’s volume and breakout above the 2008 high was a very bullish technical development…this is going to be a very interesting story to watch as Currie Rose focuses on development of two very promising projects (Mabale Hills and Sekenke) in northwest Tanzania’s prolific Lake Victoria Greenstone Belt…GoldQuest Mining (GQC, TSX-V) has hit a new 52-week high today of 36 cents…GQC recently came out with an NI-43-101 inferred resource estimate (400,000 ounces of Gold) for its La Escandalosa Project (formerly Las Tres Palmas) in the Dominican Republic…the estimate was based on just 25 holes at Escandalosa Sur with considerable additional potential around that area and going both north and south…GoldQuest has been active in the DR for over a decade and has assembled a quality pipeline of advanced and early stage exploration projects in that mining-friendly country…a 43-101 resource estimate is also expected soon for GoldQuest’s zinc-lead-silver project (Toral) in northwest Spain…drilling starts up again soon at GQC’s DR properties…the stock is ahead 4 more cents this morning to 35 cents…another company in the DR we like a lot, and encourage investors to examine, is Everton Resources (EVR, TSX-V) which is stronger this morning at 37.5 cents (up 2.5 cents)…EVR is currently drilling its APV Property immediately adjacent to the Western Hemisphere’s largest Gold deposit (Pueblo Viejo) that Barrick and Goldcorp hope to put into production by the end of next year…Pueblo Viejo is the largest development project in the DR with the total capital expenditure expected to be around $3 billion…Sidon International (SD, TSX-V) is up 2 pennies to 13.5 cents and showing renewed technical strength…the company is developing its Morogoro East Gold Property in Tanzania which has high grade potential…