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Gold has softened this morning ahead of this week’s Fed meeting and tomorrow’s Congressional elections which are expected to deal a severe blow to President Obama’s radical agenda…Gold has traded between $1,348 and $1,366 so far today…as of 8:35 am Pacific the yellow metal is off $10 an ounce to $1,350…Silver is 22 cents lower at $23.53 while the U.S. Dollar Index is nearly half a point higher at 77.39…the CDNX is down 5 points at 1945…we have a couple of theories with regard to tomorrow’s elections in terms of their potential impact on the markets…first, the expected Republican takeover of the House of Representatives and possibly even the Senate should be welcomed by investors (in both the United States and Canada)…the far left, anti-business, tax-the-”rich” agenda of the self-described “community organizer” in the White House who hasn’t worked a day in his life in the private sector is about to be stopped in its tracks…the Bush tax cuts will likely be extended for everyone, and it would be nice to see the Republicans move to reduce job-killing high U.S. corporate taxes…a reduction in capital gains taxes would also be welcomed by the market…with Obama in the White House, however, there will be plenty of gridlock in Washington which may elevate the importance and influence of the Fed…given Bernanke’s appetite for quantitative easing, a lower U.S. Dollar and a generally more inflationary environment, this could be very bullish for Gold and commodities in general…more Republicans in Congress is also bullish for Canada’s oil industry and will reduce protectionist trade sentiment in Washington…we expect little progress in reducing the huge U.S. government debt as Americans haven’t yet really come to grips with the seriousness of that issue (like an alcoholic who refuses to believe he has a problem), and there’s no leader in the White House who can rally Americans to that cause…China’s economy continues to motor along with manufacturing data coming in much stronger than expected…the Shanghai Composite Index recorded its biggest monthly gain in October since July, 2009…Gold Bullion Development (GBB, TSX-V) has traded between 60 and 65 cents this morning…GBB’s new bullishness was clearly on display in early trading as the stock fell to a low of 60 cents and then roared back up…as of 8:35 am Pacific, GBB is off 2 pennies at 61 cents…Adventure Gold (AGE, TSX-V), which will benefit from any positive developments reported by Gold Bullion at Granada (and vice-versa for that matter), is down half a penny at 39 cents after climbing as high as 42 cents…AGE has much more going for it than its newly-acquired 200 hectare land package at Granada…Currie Rose Resources (CUI, TSX-V) has broken through resistance at 20 cents on high volume…what’s moving CUI is the growing realization of the quality and potential of this company’s Gold properties (hundreds of square kilometres) in northwest Tanzania…drilling is well underway at Sisu River, just a few kilometres northeast of the discovery CUI made several years ago at Mwamazengo…both properties are part of CUI’s highly prospective Mabale Hills Project which is in the centre of the Gold-rich Lake Victoria Greenstone Belt…another Currie Rose project we are extremely excited about is Sekenke which surrounds the former Sekenke Mine, one of Tanzania’s original Gold producers from the first half of the 20th century…as we learn more about Sekenke, we see this property as being a potential “company maker” for Currie Rose and we’ll be reporting more on that this week…CUI is currently at 23 cents, up 3.5 pennies after hitting a new 52-week high of 23.5 cents…CUI volume is over 2 million shares…Greencastle Resources (VGN, TSX-V) appears to be in the early stages of one of its infamous major moves…VGN spiked in late 2003, early 2006 and mid-2008 with higher highs in ’06 and ’08…Greencastle’s focus is shifting to Gold and the company’s current market cap of only $8.5 million is dirt cheap when you consider its Gold assets and potential new acquisitions along with its current cash position of $6 million…it also has monthly oil royalty revenue…Greencastle is currently up half a penny to 19 cents…GoldQuest Mining (GQC, TSX-V) is another one of our favorites with an outstanding portfolio of Gold properties in the Dominican Republic…we suggest investors check out John’s chart on GQC this morning as well as our Weekend in Review piece on GQC yesterday…GoldQuest is up 2 cents this morning to 26 cents…