BullMarketRun.ca

Gold has hovered between $1,272.50 and $1,283.50 so far today ahead of the FOMC meeting of the Federal Reserve…investors will be paying very close attention to this afternoon’s Fed statement…any hints of additional economic stimulus measures from the Fed (i.e., more quantitative easing) will certainly be bullish for the Gold market…as of 8:35 am Pacific, the yellow metal is down $5 an ounce to $1,274…the CDNX hit a new 52-week high of 1,694.45 in early trading today but has since retreated on profit-taking to 1681, down 5 points…some degree of sanity has returned to the Gold Bullion Development (GBB, TSX-V) market…bargain hunters stepped in right at the opening bell and GBB is currently up 4 cents to 57 cents on CDNX volume of 1.8 million…Seafield Resources (SFF, TSX-V) is down half a penny to 23.5 cents…its overbought condition is unwinding, which is positive, with very strong technical support at 23 cents – an area of previous strong resistance and just above its rising 20-day moving average of 21 cents…we expect news almost any day now out of Seafield regarding its exploration program at Quinchia including initial drill results out of Miraflores…another rising star in the prolific Middle Cauca Belt of Colombia is Bellhaven Copper and Gold (BHV, TSX-V) which appears to have its La Mina Project on the fast track to success…the very respected Paul Zweng is directing Bellhaven’s operations which also include interests in Panama…Bellhaven is currently off a penny to 56 cents after a powerful move (10.5 cents) to the upside yesterday…Sidon International (SD, TSX-V) is down half a penny to 14.5 cents…its rising 20 and 50-day moving averages just below 13 cents are providing tremendous technical support…we see another beautiful chart in Currie Rose Resources (CUI, TSX-V), also with interests in Tanzania, which has been consolidating recently and is trading just above its rising 20-day moving average…Currie Rose raised a million dollars in a recent financing and they’re now ready to go back to work in Tanzania…