August 19, 2010
Gold has hit a fresh 7-week high this morning…as of 8:20 am Pacific time, the yellow metal is up $5 an ounce to $1,235…bulls have clearly seized momentum with Gold and a test of the all-time high can’t be far off…the Dow is down over 100 points but of course we keep our eye on the CDNX which is bucking the broad market trend and is holding steady, up a point at 1471…in a significant development, the CDNX’s 50-day moving average has swung positive after a 3-month decline…the big test for the CDNX will be getting through resistance at 1500 where both the 100 and 200-day moving averages are resting at…Gold Bullion Development (GBB, TSX-V) is up a penny to 51 cents with bargain hunters stepping in this morning…Jordan Capital has been on the buy side which should put the nervous nellies at ease…those who understand this story and have done their research will wisely keep the faith…stay focused on the big picture that continues to develop with Gold Bullion…
