August 20, 2010
The markets are a little soft across the board this morning but Jordan Capital’s appetite for Gold Bullion Development is certainly not waning…
Gold is seeing some profit-taking today with the yellow metal down $6 an ounce as of 8:15 am Pacific to $1,227…Gold has traded within a range of $1,221 to $1,234 so far today…the U.S. Dollar is up sharply this morning which has contributed to some of Gold’s weakness but the two have shown they can move in tandem…the CDNX is down 3 points to 1,470, in sympathy with losses in the broader markets and in Gold and Oil…Gold Bullion Development (GBB, TSX-V) is unchanged at 51 cents…it’s interesting to note that Jordan Capital, a key player to track in GBB, bought 196,500 of the first 211,200 shares that traded in the first hour this morning…they were on the buy side in 10 of the first 18 trades, a very positive sign…on the Gold Bullion chart, which BMR’s technical analyst updated last night, the second symmetrical triangle that has formed right now is very similar to the pattern we saw in January and February prior to the March breakout…
