BullMarketRun.com

Gold has traded between $1,407 and $1,418 so far today…as of 8:30 am Pacific, the yellow metal is up $4 an ounce at $1,414…Silver is 55 cents higher at $33.93 while weakness continues in the greenback…the U.S. Dollar Index has hit a new 4-month low and is currently off more than one-third of a point at 76.93…the fact the U.S. Dollar has not seen safe-haven buying given the unrest in the Middle East is very bearish and suggests further weakness down the road…this is another bullish factor for Gold…a slew of U.S. economic reports are coming out this week including non-farm payrolls for February on Friday…this morning, the Commerce Department reported that U.S. consumer spending rose less than expected in January (0.2%) as households took advantage of the largest increase in incomes in more than a year-and-a-half to rebuild savings…crude oil prices have eased somewhat amid reassurances about supply from Saudi Arabia…J.P. Morgan upped its forecast Friday for 2011 Brent Crude by nearly 14%…increasing oil prices will further add to worldwide consumer price inflationary pressures which has to be viewed as a positive for Gold…the CDNX is closing the month on a strong note…the Venture is 13 points higher at  2389 as of 8:30 am Pacific…this follows a powerful reversal Friday which bodes well entering the month of March…we’re keeping a close eye on GoldQuest Mining (GQC, TSX-V) this week for possible news on a couple of fronts…in our interview with Chairman Bill Fisher earlier this month, he indicated he was hoping to have initial drill results from La Escandalosa in the DR in time for PDAC which begins March 6…the company will be displaying some core from Escandalosa and Las Animas at PDAC…the 43-101 resource estimate for the Toral zinc-lead-silver deposit in Spain is also due anytime now…Julio Espaillat who was President and General Manager of Globestar’s DR subsidiary, officially starts his new position as GoldQuest’s President and CEO tomorrow…the DR is very much in the early stages of a mining boom and another company we like there of course is Everton Resources (EVR, TSX-V)…GoldQuest is up a penny this morning at 44 cents while Everton is still battling resistance at the 40-cent level…it’s currently up 1 penny at 38 cents…Cadillac Mining (CQX, TSX-V) is up 1 cent at 34 cents…we spoke with President and CEO Victor Erickson over the weekend, in preparation for a major interview early this week, and it’s not hard to sense his excitement regarding the Wasamac Property and his company’s claims that adjoin Richmont’s (RIC, TSX) rapidly growing deposit…Cadillac is finalizing plans for a geophysics and diamond drilling program at its Wasa claims while Erickson is also very encouraged that Visible Gold (VGD, TSX-V) is initiating a 9,000 metre drill program on CQX ground elsewhere along the Cadillac Trend as part of the two companies’ joint-venture arrangement last December…between its properties in northwestern Quebec and a former Gold-Silver mining camp in Utah that Cadillac has secured (Erickson has major plans for the Goldstrike Project), CQX is poised for its best year ever…with a market cap of just $8.5 million, the lowest of any company we currently follow, the risk-reward ratio with Cadillac is hugely attractive…Erickson and Andre Audet (VP, Exploration) are hanging on tightly to their shares which should be a signal to the market…neither sold a single share in the run late last year from a nickel to 50 cents…Adventure Gold (AGE, TSX-V) continues to impress…AGE is up another 2 pennies this morning to 71 cents and is now ahead 112% since we introduced it to BMR readers five months ago…Adventure Gold is working hard on several fronts and the odds of the company “hitting” on at least one of those projects appears very good…Gold Bullion Development (GBB, TSX-V) is up a penny at 57 cents as the rebuilding continues after the February 15 drop…January and February have been rough months for GBB but we’re looking for a rebound in March which was also its breakout month last year…we’re continuing our work on a major GBB article…Greencastle Resources (VGN, TSX-V) is slowly firming up…we’re still waiting for VGN to ramp up its Gold exploration activity but in the meantime the company is benefiting from higher oil prices…the stock has been trapped between its 50 and 200-day moving averages since late January…odds are much greater it will break above the 50-day, currently at 28 cents, as opposed to falling below the 200-day which is currently rising and at 20 cents…the fundamentals with Greencastle are very strong but patience is required as the company works on getting things going in the Gold space…Greencastle is up 1.5 cents this morning at 25 cents…one of our favorite Silver stocks, Great Panther Silver (GPR, TSX), has more than doubled since we pointed out a potential big opportunity with this play in late January when it fell as low as $1.79 during the precious metals sell-off…we’re examining some other Silver opportunities as well right now…of course Abcourt Mines (ABI, TSX-V) is sitting on one of the best Silver assets in the country (Abcourt-Barvue) near Val d’Or and even higher Silver prices could make this company a potential takeover target if it’s not able to bring Abcourt-Barvue back into production itself…accumulation of this stock has been very significant since December…Abcourt’s Elder-Tagami Gold Project is also a very valuable asset as well…drill programs continue at both Elder-Tagami and Abcourt-Barvue…ABI is currently unchanged at 19 cents…the rising 50-day SMA at 18 cents provides excellent support…in a late breaking development, Manitou Gold (MTU, TSX-V), a company we have mentioned here before on numerous occasions, was halted this morning and came out with a spectacular assay result of 53,700 g/t Au over a 0.55 metre core length in hole #26 at its Kenwest Property in northwestern Ontario…the remarkable 1,566 ounces per tonne intersection is part of an 8.45 metre wide section of quartz veining contained within a broad alteration zone in a structure just 45 meters below surface…the hole intersected 8.45 meters of mineralization averaging 4.9 g/t Au with the high-grade sample cut to 50 g/t Au…Manitou last closed at 34 cents and re-opens for trading at 9:30 am Pacific…