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Gold has traded between $1,323 and $1,336 so far today…as of 9:00 am Pacific, bullion is down $10 an ounce at $1,327…Silver is off 26 cents at $19.93…Copper is flat at $2.22…Crude Oil is 72 cents lower at $45.24 while the U.S. Dollar Index is relatively unchanged at 96.52…

Holdings in Gold-backed exchange-traded funds rose 1.45 metric tons 2,002.46 tons on Friday, according to data compiled by Bloomberg…

Casey On Gold

Longtime investor Doug Casey says he expects eventful, yet somewhat frightening, years ahead for markets and the U.S. economy…speaking with Kitco News on the sidelines of “Freedom Fest” in Las Vegas, Casey warned, “We’re on the cusp of the greater depression.  I believe that this year, before this year is over, we’re going to enter the trailing edge of the storm, which is going to be really chaotic and much more different than what we had in 08–09.  One of the characteristics of it is that there is going to be a panic into Gold,” he said…

Trouble In Turkey

Friday’s failed coup attempt in Turkey, such a strategically important country given its location and the size of its military, will ultimately prove bullish for Gold…under President Erdogan, an authoritarian thug who has no respect for democracy, NATO ally Turkey (how much longer will, or should, they remain a NATO ally?) is increasingly turning into an Islamist dictatorship right before the eyes of the current naïve U.S. administration…extremely alarming, to say the least…the lower level military personnel who rose up Friday to attempt a coup likely represented the last gasp of secular forces desperately trying to reverse what has occurred in recent years…unfortunately, Erdogan’s hand has only been strengthened as a result of the bloodshed and failed coup…he had already purged much of the military and the judiciary over the last 5 years or so, and now he’s finishing that task (thousands of people have been “rounded up” in the last few days)…

Erdogan is certainly not a true or reliable ally in the war against ISIS and radical Islamic terrorism, and the porousness of Turkey’s 500-mile border with Syria has become a huge problem for the West…journalists are also not safe in that country, which speaks volumes about the hideous Erdogan regime…according to a report published by the Committee to Protect Journalists (CPJ), Turkey’s press freedom situation has reached a crisis point as Turkish authorities continue to engage in widespread criminal prosecution and jailing of journalists while applying other forms of severe pressure to promote self-censorship in the press…

A key NATO ally, strategically straddling eastern Europe and western Asia with a population of 75 million, and just 500 miles north of Israel, evolving into an Islamist dictatorship – another “sign of the times” in this increasingly chaotic world…

CRB 2-Year Weekly Chart:  Onward & Upward!

We can say with almost 100% certainty that commodities are going higher during the 2nd half of this year…not only are individual charts for the Venture, Gold, Silver and Oil indicating that, but this 2-year weekly chart for the CRB is a “picture of beauty”…

The CRB’s rise from its low of 155 in January has been slow and steady, featuring breakouts above long-term downtrend lines (price and RSI-14) and a push above some Fib. resistance levels as well as the 200-day moving average (SMA) which has flattened out at 179…we’ve seen a “Golden Cross” (the 50-day crossing above the 200-day) while the 200-day should also reverse soon (this quarter) to the upside…

Historically, in commodity bull markets, the Venture has always led the CRB higher…that’s what has occurred this time around as we’ll show in another chart in today’s Morning Musings…

In today’s Morning Musings…

1. A move of historic proportions in Silver is on the way…

2. Probe Metals (PRB, TSX-V) – David Palmer’s war chest and savvy will deliver success in the months ahead…

3. New addition to the BMR Top Opportunities List…

4. Daniel’s Den – when currency confetti begins raining from the sky…

Plus more…click here to read the rest of this article, and all BMR exclusive content, by taking advantage of our July Special, or login with your username and password.

What?

Tonight we look at an intriguing early-stage project that has had 17,000 m of drilling – a high-grade Gold mineralized mesothermal quartz vein system in the historic 160-km long “Juneau Gold Belt” of southeast Alaska. Historically, more than 7 million ounces of Gold were mined from this prolific district.

Coeur Mining (CDE, NYSE) reactivated the district in 2010 by reopening its Kensington Gold mine, located northwest of this project. In addition, Hecla Mining’s (HL, NYSE) polymetallic Green’s Creek Mine, a massive sulfide deposit containing Silver, Gold and Zinc, is located on a parallel trend 20 km to the west.

This project has close proximity to power, tidewater, a highway, and skilled labor. Past drilling yielded numerous multi-ounce Gold intercepts on multiple veins. Highlights from 1 vein include:

Hole DDH 11E-2 = 15.3 m of 37.07 g/t Au

Best of all from an investor standpoint, this project is now 100%-owned by a company with a market cap of just $2.3 million!…

Click here to read the rest of this article, and all BMR exclusive content, by taking advantage of our July Subscription Special, or login with your username and password.

And if you’re a non-subscriber, click here for a free BMR eAlert that includes information on a hot tech play that could double in a week, and an 8-cent undiscovered junior in a rich Silver district…

TSX Venture Exchange and Gold

Another impressive week for the Venture as it gained 14 points or 1.9% to close at 766, despite the $28 or 2% drop in Gold.  That’s a clear statement from the Venture that the pullback in Gold in recent days represents an excellent buying opportunity – bullion’s primary trend remains very bullish, even in the event of some additional minor weakness.  Silver barely budged last week, losing just a nickel, as it continues to outperform Gold as is typical in a bull market.

The Venture is now up 300 points or a whopping 64% from its January all-time low of 466, but the masses are still not convinced that this move is for real.  That’s good, because they’re ultimately the ones who will help drive the Index above 1000 again when “reverse capitulation” sets in.  We look forward to that moment!

The Venture is in the grips of one of its greatest bull runs ever which suggests that Gold has much higher to go while the world slips further into chaos, forcing central banks to keep printing “funny money” and maintain interest rates at historically low levels.

Indeed, a “Perfect Storm”…

In today’s report, what you need to know about the Venture, Gold and the U.S. dollar, and a “heads-up” on a few interesting plays for next week…

Non-subscribers…click here for a free BMR eAlert regarding opportunities this coming week…

And…click here to read the rest of today’s Week In Review And A Look Ahead, and all BMR exclusive content, by taking advantage of our July Special, or login with your username and password.

Gold has traded between $1,322 and $1,336 so far today…as of 10:00 am Pacific, bullion is down $5 an ounce at $1,333…Silver is off 19 cents at $20.07…Copper, which has enjoyed a strong week, is off a penny at $2.22 after trading as high today as $2.25…Crude Oil has climbed 20 cents to $45.88 while the U.S. Dollar Index has surged half a point to 96.60…

After 6 weeks of gains, the longest rally since March 2014, Gold came under pressure this week and is down about 2.5% with a few more hours of trading to go…uncertainty around the implications of Britain’s Brexit vote eased somewhat this week with the formation of a new government, but that issue hasn’t gone away and will have an impact on the markets for many months to come…

Significantly, the Venture has largely shrugged off weakness in both Gold and Oil in recent days and is poised for another sharp weekly advance…the drop in Gold should be viewed as a healthy pullback within an ongoing and powerful overall uptrend…there’s no reason the support band between about $1,290 and $1,320 should not hold…

Holdings in SPDR Gold Trust fell 0.25% to 962.85 tonnes yesterday…

RBC Capital Markets on its bullish outlook for Gold:  “We believe that the sharp increase in buying volumes indicates appetite for sticky, fundamental demand in the Gold space, and that this should provide a support for a higher Gold price as investors continue to buy any pullbacks.  The influx in ETF demand in 2016 is also approaching the record level of 662 tonnes seen in 2009, as investors seek Gold as a store of value and hedge against negative real rates.”

A Policy Of Appeasement Isn’t Working

Yet another terrorist attack, this time with a truck in Nice, France, that mowed down innocent civilians like bowling pins and killed more than 80 people in a brutal, evil massacre…when will Barack Obama, Hillary Clinton, Justin Trudeau and other political elites across the West finally understand that we really are in a war against terrorism that threatens to tear Western Civilization apart?…according to them, of course, “Climate Change” is the greatest threat we face, not radical Islamism – a problem that political correctness forces them to not even identify…jihadists are merely a geopolitical “nuisance”, not an existential threat, in their view – until, of course, ISIS or another group attacks with biological weapons and wipes out entire cities…history will judge our “leaders” accordingly…it is simply indefensible that a caliphate was allowed to establish itself in the first place, giving ISIS momentum and allowing it to spread its message of hate and recruit sympathizers from across the globe…

The U.S. needs to organize an international coalition, including Muslim nations, to combat the “metastasized cancer” inside of Islam, retired Lt. Gen. Michael Flynn told CNBC this morning in the wake of the deadly attack France last night…Flynn, the former director of the Defense Intelligence Agency under President Obama, became disillusioned by the administration’s refusal to recognize radical Islam as the enemy…

Mixed Economic Data

U.S. retail sales for June beat economists’ expectations, rising 0.6% last month versus consensus of a 0.1% increase…however, a key measure of U.S. consumers’ attitudes was lower so far this month, as high-income consumers digested Britain’s surprise vote to leave the European Union…the Index of Consumer Sentiment hit only 89.5 in July’s preliminary reading, the University of Michigan reported this morning…economists expected the preliminary July number to reach 93, down just slightly from June’s final reading of 93.5…

In other economic data released this morning, U.S. consumer prices increased for the 4th straight month in June…the CPI rose 0.2% last month, the Labor Department said, after a similar gain in May…

In today’s Morning Musings…

1. TSX Gold Index update…

2. Three juniors ready for fresh climbs higher…

3. What to expect when Deveron UAS (DVR, CSE) starts trading…

4. Daniel’s Den – Peru, and an update on the baby Intel of wearable technology…

Plus more…click here to read the rest of this article, and all BMR exclusive content, by taking advantage of our July Special, or login with your username and password.