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Gold fell as low as $1,350 this morning but has rallied back to yesterday’s close of $1,364 as of 8:55 am Pacific…Silver dropped below $30 an ounce but has bounced back as well…it’s now up 3 cents to $30.23…the U.S. Dollar Index is up over a third of a point to 78.04…Mubarak appears ready to step down as leader of Egypt, so markets are focusing on developments there today…Gold’s next major area of resistance is between $1,370 and $1,380…new U.S. claims for unemployment benefits dropped more than expected last week to touch their lowest point in 2.5 years…this could be an encouraging sign that the U.S. labor market is on the road to recovery but that road is likely to be long and bumpy…the CDNX fell as low as 2333 this morning but is now recovering…the weakness yesterday and this morning should be of no concern as this market has very strong technical support between the 20-day moving average (SMA) at 2295 and the 10-day SMA at 2335…the 2300 level was major resistance in January and now it is major support…the CDNX may wish to test that support, and that’s perfectly fine…the Index is now down just 10 points at 2344…GoldQuest Mining (GQC, TSX-V) has fallen two pennies to 42 cents on light volume…there is a very strong band of technical support on GQC between 40 and 42 cents as John identified in his chart last weekend…we believe this could be the “last chance” opportunity for GQC at or near these levels…we haven’t mentioned Abcourt Mines (ABI, TSX-V) in a while…ABI dropped to a major support area at 16 cents (its rising 50-day SMA) this morning where it rallied from in late January…given the two outstanding assets this company has (the Abcourt-Barvue Silver-Zinc Property and the Elder-Tagami Gold Project), the company in our view will either unlock the value of these properties itself or it could become a takeover target…the record high volume in the stock since December suggests there is considerable interest in this company’s assets…Abcourt is currently unchanged at 17 cents, giving it a market capitalization of only $19 million…Troymet Exploration (TYE, TSX-V), which we have been following occasionally over the last few months, has started a drill program at its Key Project which is next to Richfield’s (RVC, TSX-V) Blackwater deposit in central British Columbia…it’ll be interesting to see what kind of results Troymet comes up with…they could really ignite a flurry of activity in the area if they hit something…TYE is ahead 1.5 cents to 26 cents…Seafield Resources (SFF, TSX-V) is looking for a bottom and perhaps SFF found it yesterday at 37.5 cents (the 100-day SMA)…the stock is currently unchanged at 40.5 cents…it seems Seafield has mishandled the news flow (there hasn’t been any) after the momentum that was generated in December from the results at Miraflores and the financing, but we continue to hold complete confidence in the potential of Quinchia…Seafield has an excellent opportunity to outline a series of deposits that total several million ounces or more…as BMR readers know, we are very bullish on the prospects for Cadillac Mining (CQX, TSX-V) and we suggest investors read an interesting letter to shareholders Cadillac has recently posted on its web site…in performing our due diligence on Cadillac, we also became quite familiar with Visible Gold (VGD, TSX-V) which CQX partnered with in December for exploration work on Cadillac’s substantial property package in the area around Rouyn-Noranda (west of Granada)…we suggest readers put VGD on their radar screens as the company is sitting on a large pile of cash (approximately $9 million) and has commenced a $6.5 million exploration program with a total of at least 40,000 metres of drilling for this year…the VGD group is hungry and aggressive and should generate some more excitement along the Cadillac Trend…the stock is rebounding from a recent low of 34 cents…it’s unchanged this morning at 39.5 cents…Sidon International (SD, TSX-V) is up half a penny at 13 cents…the stock is trading between its 100 and 200-day moving averages as it was through part of October and most of November prior to a breakout…patterns tend to repeat…this stock has been very volatile but right now it’s in a zone of strong technical support…we’re still waiting for confirmation of an interview time with President and CEO Kamal Alawas…