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Gold, which is in danger of posting its fifth straight monthly decline, is pulling back slightly today after a strong start to the week…as of 7:35 am Pacific, the yellow metal is down $11 an ounce at $1,604…Silver has declined 29 cents to $29.14…Copper is off a penny to $3.56…Crude Oil is up slightly at $92.73 while the U.S. Dollar Index has retreated one-third of a point to 81.51, putting it right at previous important resistance…the weekly close of the Dollar Index will be important in determining whether or not it has staged a technical breakout and what the implications of that might be…

Today’s Markets

Asian markets were generally higher overnight with China’s Shanghai Composite Index gaining 20 points to close at 2313…overall investment sentiment is still frail after Italy’s inconclusive elections, and the startling rise of the Five Star Movement, re-ignited fears of more problems and instability down the road in the euro zone…the results in Italy threaten to unravel 15 months of austerity measures in that country that helped to restore investor confidence…two big questions are, how will things unfold there in the coming months and will events in Italy spill over into other euro zone countries?…European markets are up today while the Dow has posted a 75-point gain through the first hour of trading…the Venture Exchange is flat at 1132 while the TSX Gold Index has declined 4 points to 261…

Positive U.S. Economic Data

A gauge of planned U.S. business spending increased by the most in just over a year in January and new orders for long-lasting manufactured goods excluding transportation rose solidly, pointing to underlying strength in factory activity…the Commerce Department said this morning that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, jumped 6.3%, the biggest gain since December 2011, after slipping 0.3% in December…economists had expected this category to only rise 0.2%…durable goods orders excluding transportation increased 1.9%, the largest gain since December 2011, after increasing 1% in December…that was well above economists’ expectations for a 0.2% gain…

Copper Chart Update

Copper has been hit hard recently, which has spooked some investors as it’s an important leading indicator of global economic growth, but John’s updated 6-month daily chart shows it’s trading at support and a rebound appears to be underway…a bullish engulfing pattern has formed during the past couple of days…Copper was as high as nearly $3.80 a pound early this month before plunging about 7%, interestingly in line with the decline in the Venture Exchange…

TomaGold Corp. (LOT, TSX-V) & Quinto Real Capital Corp. (QIT, TSX-V)

A week ago today, during the plunge in Gold and the Venture Exchange, we alerted to our readers to an important high-grade Gold drilling discovery at TomaGold’s (LOT, TSX-V) Monster Lake Property near Chibougamau, Quebec, which Quinto Real Capital (QIT, TSX-V) also has a stake in – in fact, Quinto can earn an initial 50% interest in the project for $350,000 cash, 1 million shares at 15 cents, and exploration expenditures of $6 million over four years…yesterday, Quinto announced a $500,000 financing through secured debentures…Quinto has only about 11 million shares outstanding while TomaGold has over 50 million outstanding…hole M-13-94 was the real eye-opener as it intersected a very impressive 7.20 g/t Au over 42 metres at a vertical depth of 278 metres (true width estimated to be between 70 to 85%)…what’s particularly important is that the property had never been previously drilled below a depth of 125 metres…more results are pending…LOT is up 26% after closing last Wednesday (following the news) at 17 cents, while QIT jumped from a close of 23 cents last Wednesday to 63 cents on the close yesterday…what this shows is that it’s so important right now to watch for discoveries, particularly since investors in this current market environment are generally slow at reacting to them…another company we believe investors should keep an eye on in the Chibougamau area is Chibougamau Mines (CBG, TSX-V) which is currently drilling and has strengthened somewhat since the Monster Lake discovery was reported…CBG closed at 19 cents yesterday…it’s a recent spin-out from Globex Mining (GMX, TSX-V) and Jack Stock did a major financing at 50 cents…as always, perform your own due diligence…

Below is an updated LOT chart from John…LOT is up 2 cents to 23.5 cents in early trading…

Cap-Ex Ventures (CEV, TSX-V) Chart Update

Giyani Gold Corp. (WDG, TSX-V)

The last couple of years have not been kind to many juniors, and Giyani Gold Corp. (WDG, TSX-V) is no exception as it has fallen from a high of about $3.60 to an intra-day low Monday of 46.5 cents as it interestingly touched the bottom of a downsloping channel…on the last two occasions the stock did this, it went on to post significant gains over the next month or so…yesterday, WDG closed up a dime at 59 cents on strong volume…as an “awareness” issue for traders, below is a 2.5-year weekly WDG chart from John…as always, perform your own due diligence…

Note: John, Jon and Terry do not hold positions in LOT, CEV or WDG.