BullMarketRun.com

Gold has traded between $1,160 and $1,178 so far today…as of 11:15 am Pacific, bullion has recovered to $1,173, even for the day…Silver is up 14 cents at $16.62…Copper is off slightly at $2.62…Nickel is down 2 pennies at $5.03…Crude Oil has surged another $2.12 a barrel to $51.56 while the U.S. Dollar Index has retreated half a point to 101.02…

HSBC looks for the polish to return to Silver in 2017, forecasting a 132 million ounce supply deficit and an average price of $18.75 an ounce…like Gold, Silver fared well for most of this year before a recent downward spiral after the U.S. elections and a growing certainty of a Fed rate hike December 14…

“In our view, any resurgence in investor uncertainty or ‘safe-haven’ demand, possibly based on geopolitical concerns, will bolster Silver in 2017,” HSBC said, forecasting a price range for the year of $16 to $21.50.  “We also base our expectations on solid fundamentals, as mine supply is likely to contract while industrial and jewelry demand should increase. Our expectation of Gold strength is supportive, and we believe a tighter Fed policy is largely priced into the market.”

A stronger-than-expected U.S. ADP national employment report yesterday and an upbeat ISM Chciago business survey helped put fresh pressure on Gold with prices dipping to a new 10-month low this morning…New York-listed SPDR Gold Shares said its holdings fell nearly 60 tonnes in November, the most of any month since May 2013…

U.S. 10-year Treasury yields hit their highest levels since July 2015 today…

The euro zone unemployment rate is now at its lowest level in 7 years, falling to 9.8% in October from 9.9% in September…also, euro zone PMI was 53.7 in November, up slightly from the October reading of 53.5…

OPEC burned quite a few shorts in the market yesterday – shares of Whiting Petroleum (WLL, NYSE), North Dakota’s largest Oil producer, soared 30% on massive volume…more than a quarter of its float was bet short, according to FactSet…

Crude Oil Update

The likes of Elizabeth May and David Suzuki have made it clear that those who are opposed to the Kinder Morgan Trans Mountain pipeline expansion, approved Tuesday by Prime Minister Trudeau, will do whatever they can to attempt to block the critical infrastructure project – in May’s case, even if it means “going to jail”…

BMR offices are just a short distance from Burnaby Mountain, so we look forward to covering any upcoming protests if the Oil haters wish to expand their efforts against Kinder Morgan and federal and provincial governments in the battle over this much-needed $7 billion project…

Environmental activist David Suzuki at a Trans Mountain pipeline protest in Burnaby, B.C., in the fall of 2014.

Imagine This:  Polluting Smoke Billowing From Suzuki’s Car!

Yesterday, we received an interesting email from one of our subscribers, a highly reliable individual, after our comments regarding Suzuki, May and all those who are opposed to the Trans Mountain pipeline expansion (or any Oil pipelines in Canada, for that matter…Suzuki said he was “gobsmacked” that Trudeau approved the project after he had personally lobbied the PM)…

“Many years ago, at least 10, we were doing a project in either Comox or Campbell River.  David Suzuki was in line with us waiting for the ferry.  When he started up his Japanese make of a car, it billowed so much smoke, in today’s environment he would not have been allowed on the ferry.  In his words, my guys were gobsmacked!  Unreal.  I should have taken a picture, you could not see his car from all the smoke!” 

In Today’s Morning Musings…

1. TSX and Oil updates – how high for Crude?…

2. Zeolite zaps CNZ to a new high…

3. The “Tinka Trend” at Ayawilca – multiple priority step-out holes for near-term drilling to expand Zinc and Tin-Copper resources…

Plus more…click here to read the rest of today’s Morning Musings and all BMR exclusive content, through a risk-free Pro, Gold or Basic package, or login with your username and password…