BullMarketRun.com

Gold has traded in a narrow range on this Memorial Day holiday for our American friends…as of 8:15 am Pacific, the yellow metal is up $2 an ounce at $1,539…Silver is 22 cents higher at $38.18…crude oil is off 28 cents at $100.41 while the U.S. Dollar Index is up slightly at 74.97…China National Gold Group Corp., the state-owned company that controls the nation’s largest Gold deposits, wants to invest in projects in Africa as it expects bullion to trade near record levels for the next three years…“We aim at large-scale mines with good potential in countries that have close ties with China and domestic stability,” President Sun Zhaoxue, 48, stated in an interview…“Gold prices will foreseeably fluctuate at historically high levels for another three years”…in a startling (not to mention idiotic) decision, Germany has decided to abandon nuclear power which currently supplies 23% of its energy needs…the country will be phasing out its remaining 17 plants by 2022…the Canadian economy, the world’s 11th largest, grew at its fastest pace in a year in the first quarter as increased activity in manufacturing and business investment outweighed faltering consumer spending…Stats Canada reported this morning that the country’s gross domestic product expanded at a 3.9% annualized rate, up from 3.1% in the fourth quarter of last year, and outstripping the 1.8% pace in the United States…G8 leaders were talking up the global economy at their recently concluded meetings in France…key manufacturing data is coming out this week along with the U.S. employment report for May (Friday)…the European debt crisis is weighing heavily on traders’ and investors’ minds right now along with the idea of a potential slowing in global economic growth…the action in the CDNX over the last week, however, has been very encouraging and suggests to us that those who are spreading doom and gloom right now are going to miss out on a significant upside move in the markets…the CDNX is down 2 points at the moment at 2099…the second most active stock is iSign Media Solutions (ISD, TSX-V) which has indeed broken out according to John’s recent chart analysis…ISD, which came out with news this morning regarding a unique in-room digital coupon delivery service using TV content as a distribution trigger, is up 7 cents at 57 cents on volume of over 3 million shares…on the resource front, Currie Rose Resources (CUI, TSX-V) enjoyed a powerful day Friday when it broke out technically as predicted…CUI has settled back a penny to 21 cents this morning…Currie Rose’s 50-day moving average (SMA) has reversed to the upside, a very bullish development, and what’s really interesting is that its 100-day SMA is now poised to reverse to the upside likely during the first week of June…the company is gearing up for a major drill program at its properties in northwest Tanzania…of particular interest is the Sekenke Project which is a geologist’s dream – it surrounds and runs in between two former high grade Gold mines including Tanzania’s original major producer from the first half of the 20th century…the ground at Sekenke is highly prospective and not just for Gold…the area has been under-explored and this project is the reason we started following CUI when it was trading at just a dime last fall…Gold Bullion Development (GBB, TSX-V), also in the beginning stages of a turnaround, is up 4 pennies at 48 cents…GBB bottomed out in the mid-30’s recently after more than three months of weakness…we continue to be very bullish on how the LONG Bars Zone at Granada is shaping up…key things to watch out for include results from LONG Bars Zone 2 (Aukeko) where drilling recently started, numerous important holes from the northern part of the Eastern Extension that have yet to be reported, the initial 43-101 resource estimate which is expected sometime during the third quarter, and developments with the Castle Silver Mine which GBB will be spinning off into a separate publicly-traded company…in addition to a better overall market moving forward, there are plenty of potential “drivers” to send GBB higher over the coming weeks…we also like the fact that Osisko Mining (OSK, TSX) has taken an equity interest in Threegold Resources (THG, TSX-V) and has also entered into an option agreement to earn as much as a 70% interest in THG’s Adanac Property which is on strike with the LONG Bars Zone…this shows that Osisko has to be watching developments closely with GBB and we all know what that could potentially lead to…the strong possibility of Gold breaking out to new highs next month could really impact the Q2 bottom lines of some smaller producers like Richmont Mines (RIC, TSX)…while we generally focus on the penny stocks, it’s hard to ignore a situation like Richmont as the company is quickly developing into an earnings machine and expanding its resource inventory with great results from Wasamac…RIC is up 3 pennies at $8.37 this morning…while some investors don’t like the idea of paying $8 for a stock, we love that idea if it’s a stock that has the potential to increase by 50% or more over the short term as Richmont clearly does if the right conditions materialize…as always, do your own due diligence…favorable chart patterns including a potential near-term reversal in its 20-day SMA are showing up in Gold Canyon Resources (GCU, TSX-V) which is a nickel higher this morning at $3.25 on light volume…