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1. Gold remains resilient, though the price has been stuck in a tight range on either side of $1,500 for 8 weeks now…as of 7:00 am Pacific, the yellow metal is off $4 an ounce at $1,510…it has traded between $1,508 and $1,515 so far today…$1,515 to $1,520 is key nearest resistance…China is set to launch a new cryptocurrency backed by Gold, reports over the weekend said…Turkey’s official Gold reserves continue to climb…according to central bank data, Turkish Gold reserves are now up 42% year-over-year…American Eagle Gold-coin sales from the U.S. Mint more than doubled in October, versus September, and were the highest since March…the U.S. and China have signalled further progress toward a breakthrough in trade talks that could culminate in a meeting between President Trump and Xi Jinping later this month…Silver is in a new uptrend channel that should lead the metal to fresh 2019 highs before year-end…Silver is up 2 pennies at $18.10 as of 7:00 am Pacific…Nickel has slipped 13 cents to $7.50…Copper and Zinc are each up a penny at $2.66 and $1.17, respectively, while Cobalt remains steady at $16.10…Crude Oil has gained another 80 cents to $57.09 while the Dollar Index has rebounded one-tenth of a point to 97.37…more problems in Chile…1 person is dead following an incident at Sprott Resource Holdings‘ (SRHI, TSX) MTV mine…a security guard was confronted by several individuals not associated with the mine’s operations, damaging company property…as a result of the altercation, the security guard was severely injured and one of the individuals fatally shot…

2. Global stocks are lagging behind U.S. shares, illustrating how investors’ faith in the domestic economy continues to drive a growing divergence in financial markets…after rising to a fresh record last week following upbeat figures on 3rd quarter economic growth and October hiring, the S&P 500 is up 22% for the year and on track for its best annual performance since 2013…meanwhile, the MSCI AC World ex USA Index (covers ~85% of the global equity opportunity set outside the U.S.) is up only 13% and had struggled to eclipse its year-to-date peak before a Friday rally…U.S. stocks have also become more expensive relative to global equities in recent years and are pricier than many overseas gauges relative to corporate earnings over the past 12 months, FactSet data show…the trend shows how steady consumer spending, strength in the labor market, strong corporate earnings, low taxes, deregulation and an accommodative Fed keep supporting U.S. stocks despite (overblown) fears of a recession and significant moves toward haven assets like bonds and Gold…all 11 S&P 500 sectors have risen in 2019, led by a 36% surge in the information technology group…shares of several large companies are up 60% or more, including Apple, Target and Chipolte Mexican Grill…

3. A single large player manipulated the price of Bitcoin as it ran up to a peak of nearly $20,000 2 years ago, a new study concludes…the study reviewed the period between March 2017 and March 2018 when the price of Bitcoin soared and its total market value rose to $326 billion…about half of that increase was due to the influence of a manipulation scheme, according to the study’s authors…they said the unknown manipulator operated from a single account at Bitfinex, the largest cryptocurrency exchange at the time…the manipulator used another cryptocurrency, called tether, to boost demand for Bitcoin, leading to the price surge…it isn’t clear by how much or if the manipulator profited…the study, written by John M. Griffin, a finance professor at the University of Texas with a background in forensics, and Ohio State University finance professor Amin Shams, was accepted for publication by the influential Journal of Finance and was published online today…an earlier version of the study argued tether was being used to manipulate Bitcoin prices, but didn’t connect the scheme to one entity…

4. The Dow has hit a new all-time high in early trading, following in the footsteps of the S&P and the NASDAQ last week…investor sentiment has been lifted by a variety of factors including fresh optimism around a potential Phase 1 U.S.-China trade deal…the Dow is up 142 points as of 7:00 am Pacific, touching its first all-time high since mid-July…Apple is by far the best-performing Dow stock since the index hit its previous record, rallying more than 25%…Intel, J.P. Morgan Chase and United Technologies are all up at least 10% during that time…in Toronto, the TSX has added 53 points…the Gold Index is off 1 point at 246 but its overall technical posture remains very positive…the Venture is up slightly at 542…some of last week’s big winners on the resource side continue to push higher…Wallbridge Mining (WM, TSX) has added 4 cents to 72 cents, hitting a fresh 12-year high, while neighbor Balmoral Resources (BAR, TSX) has gained 2 cents to 23 cents…Calibre Mining (CXB, TSX) is 3 cents higher at 88 cents…on the non-resource front, Bee Vectoring Technologies (BEE, TSX-V) is still buzzing, up a penny at 45 cents…the Canadian Marijuana Index is holding steady at 256 after another big drop last week…Chemesis International (CSI, CSE) was halted pre-market, with the company announcing delays in completing its year-end audit…recently, Chemesis reported that some of its cannabis licences remain subject to an administrative review (alongside licenses of other companies) being undertaken by the Puerto Rico Department of Health…

6. As Saudi Arabia prepares for a massive Oil IPO, the affects of Canada’s suppression of its Oil and gas sector (to “save the planet”) continue with Encana announcing it’s moving to the United States, a new drilling forecast for 2020 that is woeful at best, and Friday’s announced pending sale of Pengrowth Energy (PGF, TSX) for less than a piece of leftover Halloween candy…the Calgary-based company was a homegrown success story and was once worth billions of dollars…its share price was more than $13 in 2011…on Friday, privately-held Cona Resources said it would buy Pengrowth in a deal that would value each share as worth a nickel…that’s even lower (75% lower!) than the 20 cents they were worth earlier in the week…the company spent much of this year trying to find a way to survive…still, the proposed sale price is startling…“It’s nice to see them get something done, but a little surprised the offer is considerably less than what the shares were trading [the day before],” said Tom Pavic with Sayer Energy Advisors, a Calgary-based mergers and acquisitions consulting firm…“You don’t normally see public companies get sold at a discount to its trading price, but it’s just a sign of the times,” he added…indeed, the times are quite gloomy in the Oil patch, much to the delight of so-called “progressives” and environmentalists across Canada…there are 50,000 fewer people working in Oil and gas than there were 5 years ago, before the price crash, according to CIBC…Pete Sametz, President and CEO of Pengrowth, stated, “Despite the discount this transaction represents to Pengrowth’s recent trading price, we strongly recommend our stakeholders support the arrangement agreement as it represents the most attractive alternative for all stakeholders given the current environment where there is essentially no access to capital for the company or participants in the Canadian Oil and gas industry in general”…

7. This would certainly be a hot public listing – a privately-held B.C. company has come up with a way to obscure objects to the naked eye, making them virtually invisible…according to Hyperstealth Biotechnology CEO Guy Cramer, his company has applied for patents on material that can obscure an object or person by bending light around them so that only the background is visible…the paper-thin material relies on lenticular lenses and does not need a power source…the material has what the company calls “broadband invisibility”, meaning it can also bend ultraviolet and infrared light and block the thermal spectrum…Cramer says the material could have all sorts of military applications, particularly for special forces who need to enter and leave a location without being detected…“Snipers, quite often, it will take them hours to get into a place because they don’t want their motion giving away their location to the enemy out there,” he said…“So with a system like this, they could actually walk into a location, and it would take them less than a minute, in some cases – something that would take them hours before…and they could hide in the middle of an open field, something that they would have never done before because you always hide around cover.  Well, if no one can see you, they’re not going to shoot at you”…Cramer says there are other applications for his patents, saying his technology also has the potential to “triple solar panel output” in a different configuration, using mirrors and other material…he says the technology can also be used for other applications like autonomous vehicles…Cramer’s creation has garnered international attention…a video published by The London Daily Telegraph has more than 2 million views…“It’s overwhelming,” he said…“I knew it was going to be big; I didn’t expect it to be this big”…

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