BMR Morning Market Musings…

Gold went into reversal this morning after hitting a new all-time high of $1,250…Gold is currently at $1,223 (as of 8:20 Pacific time), down $10 an ounce…this kind of volatility, with a general upward bias, is likely to continue…a test of $1,200 is certainly possible but Gold’s primary direction is up…with weakness in Gold and the major markets this morning, the CDNX is off 21 points to 1589…it’s a good day to be a buyer…Gold Bullion Development (GBB, TSX-V) is off another half penny to 37.5 cents and should be aggressively accumulated on any weakness…GBB will find very strong technical support at current levels and activity in the stock this week suggests a new all-time high could be just around the corner…