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Gold has traded between $1,531 and $1,542 so far today…as of 8:45 am Pacific, the yellow metal is off $3 an ounce at $1,536…Silver is up 28 cents at $38.35, crude oil has climbed $2.16 to $102.75 while the U.S. Dollar Index has slipped one-tenth of a point to 74.63…U.S. markets are higher this morning following the Memorial Day holiday while Asian stocks rose sharply overnight as investors cheered news that Japan’s industrial and manufacturing activity is showing signs of rebounding after the devastating earthquake and tsunami in March…India’s economy grew more slowly than expected in the January-March fourth quarter (March 31 is the end of India’s fiscal year) but still maintained a robust pace, reassuring policy makers that the economy is in good shape despite sustained monetary tightening over the past year (The RBI – India’s Reserve Bank – has hiked interest rates nine times since March of last year to fight persistent inflation)…gross domestic product expanded 7.8% on-year in Q4 as growth in mining and manufacturing output weakened, the government said today…the reading was below the median expectation for 8.2% expansion, according to a poll of 19 economists…the economy had expanded 8.3% in the October-December quarter…for the full fiscal year ended March 31 the economy grew a provisional 8.5%, in line with the government’s projection of 8.6%…that was well ahead of the 8% growth in the previous fiscal year when the economy was shrugging off the effects of the global economic crisis…India’s Sensex Index climbed 1.49% today to 18,503…it had dropped as much as 8% since early April but appears to have found support…the Wall Street Journal reported this morning that the German government has decided to drop its demands in a bid to facilitate a new package of loans for Greece ahead of a report by the European Union, the European Central Bank and the IMF on that country’s compliance with the terms of a previous bailout…in order to get agreement on a new package, reports indicate Athens will be forced to accept international oversight over its tax collection and there will also have to be major privatizations of state-controlled assets with both conditions likely to be hugely unpopular with the Greek electorate…that’s the price, however, of irresponsible fiscal management…the likely outcome of this mess, though, is that Greece likely will default on its loans so any measures being put in place now are simply delaying the inevitable…other debt tragedies in the world are brewing as well which of course is very supportive for Gold…Euro zone consumer prices grew slower than expected in May, though remained well above the European Central Bank’s target, according to data released this morning, while unemployment held steady in April for the third month…the European Union’s statistics office Eurostat estimated that inflation in the 17 countries using the euro was 2.7 per cent year-over-year in May, down from 2.8 per cent in April…the CDNX opened higher this morning but has since pulled back slightly…it’s currently unchanged at 2098…the Index has posted gains in six of the last eight sessions, climbing nearly 150 points or 7.6% since the important low of 1957 May 17…the CDNX will post a decline of approximately 7% for the month but June is shaping up to be much better based on various technical indicators…Adventure Gold (AGE, TSX-V) has released solid results this morning from the final five holes of a Phase 1 program at its Pascalis-Colombiere Gold Property, which encompasses the past producing L.C. Beliveau Mine near Val d’Or…AGE has responded by gaining 4 pennies to 55 cents…hole #20 returned an interval of 33.1 metres grading 4.8 g/t Au with an overall intersection of 129.3 metres of 1.4 g/t Au…all five holes returned high-grade intervals and lower grade mineralization over significant widths…this property is developing very nicely and is showing excellent potential as a future small producer…the former mine was a very profitable operation for Cambior Inc. (now IAMGOLD) when it produced 167,000 ounces of Gold between 1989 and 1993…Adventure Gold has a lot going for it with several quality projects…Gold Bullion Development (GBB, TSX-V) climbed as high as 54 cents yesterday when it ran into resistance at its declining 100-day moving average (SMA)…the 50-day, however, has reversed to the upside (it now provides support near 45 cents) and that means a significant turnaround in this play is underway…GBB is down 2.5 cents at the moment to 47 cents…Gold Canyon Resources (GCU, TSX-V) has drilled 292.5 metres grading 1.13 g/t Au at its Springpole Project in Ontario, 110 kilometres northeast of the Red Lake Mining Camp…the last metre of that hole (SP11-059), which was drilled in the southeast part of the Portage Zone, averaged 3.60 g/t Au…the company released assays from three other holes as well this morning – the final holes from its winter program…SP11-57 returned an interval of 73.5 metres grading 1.32 g/t Au within a total of 220.5 metres grading 0.84 g/t Au…Sp11-60 intersected 204 metres of 1.15 g/t Au while Sp11-55, an exploration hole collared approximately 650 metres southeast of #59, encountered multiple intervals of low-grade Gold mineralization…the weighted average grade of all 2010-2011 drill intercepts in the Portage Zone is 1.3 g/t Au…”We believe the Portage Zone will prove to be one of the highest grade bulk tonnage deposits in the Shield,” stated Dr. Quinton Hennigh, Technical Adviser and Director of GCU…GCU is up a penny at $3.20…Silver Quest Resources (SQI, TSX-V) has topped the $1 level for the first time since last September…SQI, which holds a 25% interest in the northern portion of Richfield’s impressive Blackwater deposit, is 6 pennies higher this morning at $1.04…SQI is up for the seventh straight day and based on RSI readings it could be due for a brief rest soon…iSign Media Solutions (ISD, TSX-V), one of our favorite technical plays at the moment, jumped as high as 66 cents this morning and is currently up 2 pennies at 62 cents…while ISD has been very volatile and is likely to continue to be volatile, it’s not showing that it’s overbought technically at the moment…Currie Rose Resources (CUI, TSX-V) is off 1.5 cents at 20 cents…the company is expected to launch an aggressive drilling program in Tanzania next month…its 50-day SMA has reversed to the upside and the 100-day SMA is about to do the same, so this one is showing a lot of bullishness and could be a very strong performer over the summer…Spanish Mountain Gold (SPA, TSX-V) is up 6 pennies at 67 cents…SPA has terrific support right around 60 cents and given the resource it’s building at its Spanish Mountain Project in British Columbia, we believe it’s safe to say the best is yet to come from this play…the chart shows a slow but steady progression since late 2008 with rising long-term moving averages…