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Gold continues to flirt with record highs…there is clearly resistance in the $1,260’s but the action in the CDNX confirms that it’s just a matter of time before Gold does surge to a new all-time high…a quick test of $1,300 could occur upon a breakout followed by some consolidation and a test of current resistance…just one theory of several right now but one thing is for certain – the CDNX, a terrific leading indicator, is telling us a new high in Gold is not far off…as of 7:30 am Pacific time, the yellow metal is trading at $1,256, up $1 per ounce…the demand-supply equation for Gold is looking good…the World Gold Council said in their second-quarter Gold Demand Trends report that the supply of gold grew 17% from a year earlier while Gold demand grew 36%…the CDNX, which has been on a tear after blasting through resistance around 1500, hit 1600 in early trading but is now unchanged at 1595 on a little profit taking…the CDNX is being powered by higher Gold prices, fresh discoveries, sector takeovers, and by what we believe is an improved outlook for the overall world economy…this is a very powerful bull market and the reverse of what everyone went through in the summer and fall of 2008…we’re not there yet, but the potential clearly exists for junior gold stocks to go through the “hysteria stage” similar to what happened in the dot com cycle…Gold Bullion Development (GBB, TSX-V) has surged to a new all-time high of 79 cents…the company announced yesterday that GENIVAR, its geological consultant, has started a Baseline Environmental Study for the Granada Property…this shows Gold Bullion’s confidence in the LONG Bars Zone and their strategic and forward thinking…an exploration update will come either later today, tomorrow or Friday from Gold Bullion, including additional drill results, as the company confirmed yesterday…the market is obviously expecting good news and rightly so as Granada has delivered all year…what we’ll be paying close attention to is what’s happening geologically in the LONG Bars Zone to give us a better clue of just how big that structure could possibly be…as of 7:30 am Pacific, GBB is up 4 cents to 78 cents…Richfield Ventures (RVC, TSX-V) is unchanged at $2.30…Blackwater has become an outstanding project, so it was no surprise Richfield was able to attract a $15 million financing at nearly $2 per share…Colombian Mines (CMJ, TSX-V) has surged another dime this morning to 95 cents, slightly above its rising 200-day moving average…there is considerable technical resistance around 90 cents, so it’ll be interesting to see if CMJ is able to hold its current price…the move in this stock has been pretty significant in recent days, leading us to believe there could be news on the way…Sidon International (SD, TSX-V) is down half a penny at 12 cents…we’re hoping the company can quickly complete its proposed $1.2 million financing at 10 cents and get on with advancing Morogoro East…Excel Gold Mining (EGM, TSX-V), on our “Watch List”, is strongly bid and up half a cent to 17 cents…