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Gold has traded between $1,145 and $1,165 so far today…as of 11:00 am Pacific, bullion is up $8 an ounce at $1,159…Silver has jumped 40 cents to $16.28…Copper is flat at $2.49…Nickel is off 2 pennies at $4.50…Crude Oil briefly topped $55 a barrel before a sudden correction…it’s currently down $1.19 at $52.53 while the U.S. Dollar Index has surged one-third of a point to 103.17…

The market has carried the theme of a higher dollar, rising yields and bullish equities into 2017 – a formidable challenge to Gold…traders are expecting the U.S. economy to accelerate this year, thanks to pro-growth policies including tax cuts and regulatory relief as part of the Trump economic agenda…if higher growth doesn’t come as fast as expected, Gold should catch some strong bids and climb back above $1,200 an ounce…risks also continue to the downside, particularly if the greenback pushes significantly higher…one factor in Gold’s favor this month is the Chinese New Year at the end of January – physical buying typically picks up in China in the run-up to the New Year festivities there…

Hedge funds and money managers slashed their net long positions in COMEX Gold to a near 11-month low and trimmed bullish bets in Silver contracts in the week to December 27…

Palladium was the best performing precious metal last year, rising 20% for its biggest annual gain in 6 years…it has carried that momentum into 2017 with a jump of $30 an ounce or 4.4% to $708 as of 11:00 am Pacific…Platinum, which ended 2016 up just 1%, has surged $36 an ounce or 4.0% today to $937…

Growth in U.S. factory activity accelerated in December, a sign of stronger momentum in a key sector of the economy as 2017 begins…the Institute for Supply Management this morning said its PMI rose to 54.7 in December from 53.2 in November…economists surveyed by The Wall Street Journal had expected a December reading of 53.6…U.S. factory activity has been weak and choppy for more than a year…the ISM gauge had signaled contraction in late 2015 and early 2016 as manufacturers were squeezed by the energy sector’s slump and a strong dollar, which impacted foreign demand for U.S. exports…

Ford Motor said this morning that it plans to cancel a new $1.6 billion plant in Mexico, and instead invest $700 million in Flat Rock, Michigan…

Volatility in Oil prices this morning which hit a new 18-month high before suddenly reversing on concerns about increased production out of Libya…

In Today’s Morning Musings…

1. Kopin enters into a strategic relationship with Goertek, stock jumps 20%…

2. Top Oil stocks for 2017…

3. Long-term Venture and Copper charts show continued bullish primary trends…

4. Updates on Doubleview Capital (DBV, TSX-V) and LiCo Energy Metals (LIC, TSX-V)…

5. Silver update – major turnaround on the horizon?…

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…

Note:  Jon holds share positions in DBV and LIC.  Daniel holds share positions in KOPN, TAO and AOI.