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BMR Morning Market Musings... - BullMarketRun.com

January 4, 2017

BMR Morning Market Musings…

Gold has traded between $1,159 and $1,168 so far today…as of 11:15 am Pacific, bullion is up $7 an ounce at $1,165…Silver has jumped 15 cents to $16.43…Copper has added 5 cents to $2.55…Nickel, at $4.65, has surged 18 cents…Crude Oil has gained 79 cents to $53.12 while the U.S. Dollar Index has fallen half a point to 103.36

Gold is holding on to its gains despite some hawkish tones from the minutes of the December FOMC meeting, released just moments ago…the minutes show that some members could see a faster pace of tightening if the U.S. economy kicks into higher gear under a Trump Presidency and a new Congress.  “Almost all also indicated that the upside risks to their forecasts for economic growth had increased as a result of prospects for more expansionary fiscal policies in coming years,” the minutes said…

Holdings of SPDR Gold Trust, the world’s largest Gold-backed exchange-traded fund, dropped 1% to 813.87 tonnes yesterday…the rate of selling has eased in recent sessions, which is encouraging, but holdings are down about 14% since the U.S. elections in November…

Eurozone inflation accelerated at its fastest pace in more than 3 years last month as energy prices surged on the back of gains for global Crude Oil…annual inflation was measured at 1.1% for December, Eurostat said, up from a 0.6% reading in November and the fastest pace in 39 months…so-called core inflation, which strips out volatile price components such as food, energy, alcohol and tobacco prices, was measured at 0.9%, up 0.1 percentage points from November to the fastest pace since July…

Palladium Gets Lift From Strong U.S. Vehicle Sales

Palladium, which is mostly used to clean up exhaust emissions from gasoline vehicles, has soared nearly 9% in the first 2 trading days of 2017, partly in anticipation of strong U.S. vehicle sales reports…

U.S. auto makers rolled out stronger-than-expected December U.S. sales results today, amid robust demand for trucks and hefty year-end incentives, signaling the industry remained on track to set an annual record in 2016…a final tally for the year is imminent…

Sales of new U.S. vehicles reached a record of 17.47 million in 2015 and that figure should be eclipsed for 2016…the string of 6 straight years of sales gains through 2015 has not been seen since the 1920’s…however, the National Automobile Dealers Association expects U.S. sales to drop to 17.1 million vehicles in 2017 as interest rates and vehicle prices rise…that could be a pessimistic prediction, though, if the U.S. economy is able to gather steam…

Meanwhile, in China, vehicle sales were up 14% to about 25 million units through November of last year…the auto-manufacturers’ association in China projects a 13% rise in sales for 2016, more than double the 6.1% gain it forecast at the beginning of the year…

In Today’s Morning Musings

1. Venture flirts with a breakout – what to watch for…

2. This FLYHT is taking off…

3. BLO readies for another lift-off…

4. Daniel’s Den…more on Kopin and POT!…

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…

11 Comments

  1. Mitek (MITK) making moves today, up 11% to $6.80 — we suspected and suggested it was oversold between $5.50 and $6 late November.

    Comment by Daniel — January 4, 2017 @ 12:34 pm

  2. The guys who own Blo have another mj play called finore mining (soon to be kushtown). Keep an eye on this one. News should be out soon announcing the completion of their purchase of kushtown an mj drink company that is in Cali!!!

    Comment by Matt — January 4, 2017 @ 12:37 pm

  3. Macy’s to close 60 plus stores and could layoff as many as 10,000, and kohl’s not far behind, just goes to show that the us isn’t doing as good as they say.

    Comment by Laddy — January 4, 2017 @ 2:13 pm

  4. Laddy, it could just be that big department store are not doing well #amazon

    Comment by johnz — January 4, 2017 @ 4:14 pm

  5. Yes johnz I agree, I guess my point is 10,000 people. Not good…

    Comment by Laddy — January 4, 2017 @ 4:36 pm

  6. DBV next week we see hole 26 in how big it is
    Also a major is knocking on the door so I suspect Dbv will have a major multi-national partner in 2017 and sooner than most think
    GLTA

    Comment by TheSkipper — January 4, 2017 @ 4:54 pm

  7. Hey Skipper, where did you hear that a major is knocking on DBV’s door?

    Comment by Dan1 — January 4, 2017 @ 5:33 pm

  8. http://energyandgold.com/2017/01/05/the-tsx-venture-has-begun-its-next-leg-higher/

    Comment by STEVEN1 — January 5, 2017 @ 5:41 am

  9. ALERT…Venture starting to push above 784…tomorrow/Monday will be key for confirmation, but a breakout looks increasingly likely given a range of technical and fundamental factors…

    Comment by Jon - BMR — January 5, 2017 @ 6:33 am

  10. Dowa just exercised their options on CEM to earn a 49% stake in the Palmer Zinc project in Alaska. Just 40 miles from a sea port. Looking good this morning.

    Comment by Dan1 — January 5, 2017 @ 6:43 am

  11. Yes, armed with a major partner like Dowa, and some Ontario gold properties to boot, CEM has great value at current prices…more news coming soon on Palmer we suspect…

    Comment by Jon - BMR — January 5, 2017 @ 7:29 am

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