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Gold fell as low as $1,324 this morning but has since recovered in a major way…as of 9:10 am Pacific, the yellow metal is now up $15 an ounce to $1,350…Silver touched $28 but has also reversed and is now up 25 cents at  $28.60…the U.S. Dollar Index is up half a point at 77.69 on comments from the European central bank chief suggesting the EU central bank may not raise interest rates in the near term…a very important U.S. jobs report is coming out tomorrow…the expectation is that private sector job growth will come in at 163,000 while the actual unemployment rate will climb from 9.4% to 9.5%…the CDNX finally broke through resistance at 2312 yesterday, climbing 22 points on strong volume to close at 2324…the fact the CDNX not only held its own in the face of recent weakness in Gold but has now actually started a new up-leg is extremely bullish in terms of the outlook for precious metals…the CDNX is up another 18 points this morning to 2342…John, BMR’s technical guru, says the next major resistance is 2450 and the new Fibonacci target is 2790 as shown on this updated chart:

Things are relatively quiet in the BMR stable this morning…some impatient traders with extremely short time horizons continue to give up their positions in Cadillac Mining (CQX, TSX-V) which fell to a low of 21 cents this morning…it’s currently off two pennies at 24 cents…we’ve done our homework on this one and we know the potential of it, as simple as that…given the fact the fundamentals with this situation are better than ever, we are very excited about the fact CQX is sitting almost exactly where it was in early December before we first introduced it to BMR readers…do your due diligence…at 24 cents the current market cap is only $6 million…what Richmont Mines (RIC, TSX) and Visible Gold (VGD, TSX-V) are doing along the Cadillac Trend should impact CQX very positively as the month progresses…in addition, the market has yet to pick up on the significance of Cadillac’s recent land acquisition in Utah…this provides savvy (and patient) investors with a major opportunity…Gold Bullion Development (GBB, TSX-V) is quiet and off a penny at 74 cents…GoldQuest Mining (GQC, TSX-V) is also quiet after showing strength the last couple of days to begin February…we just spoke with recently appointed GQC Chairman Bill Fisher this morning and we’ll have more to say concerning GoldQuest tomorrow…the current technicals and fundamentals with GQC suggest February could be a very strong month for this company which continues to drill its promising La Escandalosa Property in the Dominican Republic…Currie Rose Resources (CUI, TSX-V) has pulled back a penny to 18.5 cents this morning…the stock got as high as 22.5 cents yesterday, its 100-day moving average…that was a 50% jump from last week’s low of 15 cents…from what we’ve been able to determine, some brokers felt CUI was undervalued and deeply oversold and decided to pile in…Sidon International (SD, TSX-V) is up half a penny at 13.5 cents…we’re still attempting to confirm an interview time with Sidon President and CEO Kamal Alawas…