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Gold has traded between $1,271 and $1,279 so far today…as of 10:15 am Pacific, bullion is down $2 an ounce at $1,273…Silver is up 7 cents at $17.79…Copper has added another penny to $2.20…Crude Oil has fallen $1.56 a barrel to $47.14 while the U.S. Dollar Index has climbed one-fifth of a point to 98.48…

Hedge funds and money managers raised their net long position in COMEX Gold for the first time in 4 weeks in the week to October 25, and cut it slightly in Silver, according to U.S. Commodity Futures Trading Commission data on Friday…

Gold and other precious metals faced their largest outflows out of U.S.-based funds last week since 2013 – in the range of $902 million…a “capitulation” before a sudden and dramatic turn higher?…

“Weinergate”:  The Wall Street Journal reports, following Friday’s FBI bombshell, that investigators found 650,000 emails on a laptop that they believe was used by former Rep. Anthony Weiner and his estranged wife Huma Abedin, a close Hillary Clinton aide for many years (the mainstream media has done no research on Abedin and her intriguing background), and underlying metadata suggests thousands of those messages could have been sent to or from the private server that Clinton used while she was Secretary of State…in August 2015, Donald Trump tweeted (and correctly predicted), “It came out that Huma Abedin knows all about Hillary’s private illegal emails.  Huma’s PR husband, Anthony Weiner, will tell the world.”

As the U.S. Presidential race enters its final full week of campaigning, Clinton is attempting to become the first woman President and the first Democrat to succeed another 2-term Democrat since Martin Van Buren followed Andrew Jackson in 1837…she could also become the first President to be indicted…meanwhile, if Trump manages an upset, he’ll become the oldest person ever to take the oath of office and the first to transition directly from the business world to the Presidency without any past experience as a high-ranking government official…polls released over the weekend are showing a tightening race but it’ll likely be a few days yet before sampling of the electorate reveals the full impact of Friday’s news from the FBI on the re-opening of the Clinton case…

Venezuela – A Latin American Syria In The Works?

Keep an eye on developments in Venezuela which continues its free-fall…some analysts are concerned that it could morph into a Latin American Syria, complete with the world’s largest proven Oil reserves to finance it…of particular concern, Iran is believed to be partnering with Venezuela’s drug traders and creating a foothold in the country…

Copper & Natural Gas

The outlook for Copper in the coming months is looking positive, according to Macquarie’s China Copper survey, which interviews smelters, traders and fabricators who are active in China…fabricators and traders have expressed intentions to dynamically build inventories while smelters are restocking raw materials…

Natural Gas prices might have a great run this winter due to the prospect of a La Niña…last week, Desjardins Capital Markets published a note in which they outlined their outlook and key drivers for Natural Gas over the coming winter months…despite an unusually warm fall in the north so far, the climatologists at the National Oceanic and Atmospheric Administration’s Climate Prediction Center are expecting this to change, which would be very positive for Natural Gas…trading opportunities in that space?…we’ll explore that this week…

In Today’s Morning Musings…

1. Almadex Minerals (AMZ, TSX-V) and Arizona Mining (AZ, TSX) both push to new highs…

2. Canadian Zeolite (CNZ, TSX-V) continues to gain momentum following last week’s news…

3. Updates on the HGU (double leveraged Gold Index ETF) and Silver…

4. Daniel’s Den – “Inside the investor’s brain”…

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…

Check back later this morning for today’s Morning Musings.

  1. Pure Gold Mining (PGM, TSX-V) drills 25.4 g/t Au over 8 m and 16.7 g/t Au over 1 m in the first 2 holes from A3, a new high-grade Gold target within the Austin horizon and more than 100 m from historic stopes at its Madsen Gold Project in the Red Lake Camp…

  2. Otis Gold (OOO, TSX-V) has intersected 30.5 m grading 5.4 g/t Au in hole 16 OKR-315 at its Kilgore Gold deposit in Idaho, fresh evidence that the grade and thickness of drill intercepts at depth in the Aspen Formation demonstrate excellent potential to expand the size and grade of the current Kilgore resource…OOO is off 6 cents at 26.5 cents as of 7:00 am Pacific, half a penny above its rising 100-day moving average (SMA)…

  3. Orex Minerals (REX, TSX-V) and Canasil Resources (CLZ, TSX-V) have released a maiden resource estimate for the Sandra Escobar Silver Project in Durango, Mexico…at a base case of 45 g/t Ag cut-off, the Inferred resource estimate yields 9.8 million tonnes grading 106 g/t Ag for a total of 33.3 million ounces of Silver…

  4. Arizona Mining (AZ, TSX) halted at 6:23 am Pacific, pending news…

  5. The unexpected announcement Friday that the FBI would review further emails from Hillary Clinton in connection with its investigation into her use of a private email server is the “October surprise” that could throw the electoral race off course, according to a team of Citi analysts…however, the analysts note that the market is still betting heavily on a Clinton win with the odds dropping only modestly from 81% to 75%…

  6. Good news for U.S. farmers, but the surge in U.S. net exports during Q3 that contributed to Friday’s 2.9% GDP growth (the best in 2 years) was a one-time boost that’s unlikely to be repeated anytime soon, according to economist Paul Ashworth at Capital Economics.  “While overall exports added 1.2 percentage points to GDP growth, without the spike in soybean exports it would have added only 0.3 percentage points”…

  7. The S&P 500 has closed within 3% of its all-time high every single day since late June – such a record has not occurred since the first half of 1995, according to LPL Financial…

TSX Venture Exchange, Gold & Overall Markets

The Venture performs best when the U.S. dollar is stable or under pressure which helps explain the consolidation phase the Index has been trapped in since mid-August.  The Dollar Index last week hit its highest levels in almost 9 months before a smack-down on Friday on news the FBI has re-opened its investigation into Hillary Clinton’s private email server.  This injects a new dynamic into the November 8th elections and opens the door for a Donald Trump victory, an outcome that would shake the Washington establishment to its knees and alter the course of American history.  Get ready for an Epic Battle over the next 10 days.

This has all the makings of a “Perfect Storm” for Gold that could power the metal $200 or more to the upside.  That’s one distinct possibility.  The other possibility is that Clinton manages to dodge this late threat to her campaign and squeeze out a hard-fought victory November 8 to maintain the “status quo”, but then what about after Election Day?  Not only would she be the most unpopular President-elect in U.S. history, she would also be under investigation by the FBI (unprecedented for an incoming President) and a bigger target than ever for Republicans in Congress.  That would increase the probability of even more dysfunctionality and gridlock in Washington, a scenario that could easily continue to hamstring the Fed and prevent it from raising rates before year-end as most investors currently expect.  That, too, would be bullish for Gold.

It’s hard to see how Gold can lose over the final 2 months of the year, so keep that in mind as you examine your portfolio.

Monday, the final trading day of the month, is Halloween.  How fitting after Friday’s events as the “fear factor” that Gold so often benefits from, like it did during Brexit, comes back into play.

Today’s Week In Review and A Look Ahead includes the top performers on the BMR Top Opportunities List last week, one of them being Almadex Minerals (AMZ, TSX-V) which jumped 44% as investors increased their bullish bets on the company’s El Cobre Gold-Copper Porphyry Project in eastern Mexico following a drill hole that returned an interval of 218 m grading 0.70 g/t Au and 0.28% Cu.  Two drill rigs are currently in action at El Cobre, one at the Norte zone discovery and the other about 3 km to the south at another target. 

Click here to read the rest of today’s Week In Review And A Look Ahead, and learn more about where the Venture is headed in the coming weeks, with a risk-free Pro, Gold or Basic subscription featuring a 100% money-back guarantee, or login with your username and password.

Gold has traded between $1,261 and $1,275 so far today…as of 9:45 am Pacific, bullion is up $2 an ounce at $1,270…Silver is 11 cents higher at $17.71…Copper has added 3 cents to $2.19…Crude Oil is off 56 cents at $49.16 while the U.S. Dollar Index has retreated one-quarter of a point to 98.67…

Gold prices pulled back slightly immediately following the release of preliminary data this morning that showed the U.S. economy grew at a faster pace than expected in Q3, but quickly rebounded as details of the report were digested…

Just 12 days before U.S. elections, the Commerce Department reported, in its advance assessment, that GDP expanded by 2.9% in the 3rd quarter, up from 1.4% growth seen in Q2…economists were expecting to see the economy expand by 2.5%…this is the best GDP reading in 3 years…what a coincidence!…

The bureaucrats’ explanation?…“The acceleration in real GDP growth in the 3rd quarter reflected an upturn in private inventory investment, an acceleration in exports, a smaller decrease in state and local government spending, and an upturn in federal government spending. These were partly offset by a smaller increase in PCE, and a larger increase in imports,” the report said…

Major strength in Q3 came from a surge in exports…according to the report, exports grew by 10% between July and September…this sector has been a major laggard as U.S. manufacturing companies are competing with a rising greenback…meanwhile, the data showed that domestic demand was weaker than expected while personal consumption in the 3rd quarter grew by 2.1%, down from Q2  growth of 4.3%…economists were expecting to see consumption expand by 2.6%…watch for a downward revision in Q3 growth when fresh estimates come in (after the election, of course)…

Other economic data released this morning included the final read on consumer sentiment for October which missed expectations…

Gold To $1,500 On Trump Upset Victory?

A victory by Republican presidential candidate Donald Trump or a clear sign that he might win in the next 2 weeks could possibly drive Gold prices up by at least 10% or more, according to analysts at Thomson Reuters GFMS…in its Third Quarter Gold Survey, the research firm broke down potential outcomes for the Gold market ahead of the November 8 election.  “On Balance, a victory for Trump (or possibly even just a clear sign that this is set to happen) would be likely to cause Gold to rise above $1,400 and even $1,500 for the first time since April 2013,” the analysts wrote in their report…

Markets are anticipating that Democratic candidate Hillary Clinton, who leads in almost all polls, will capture the White House…

How much trust should we have in the polls?…Brexit was a great recent example…also, keep in mind that no national poll in the final week of the 2000 campaign had Al Gore ahead in the popular vote, according to fivethirtyeight.com, even though he ended up winning it (Gore lost out to Bush of course in the electoral college but not before a razor-thin Supreme Court vote pertaining to Florida ballots)…in British Columbia in 2013, polls had the NDP leading comfortably right up until election night but the Liberals coasted to victory…there is a lot of potential volatility in the U.S. electorate at the moment, so anything is still possible November 8…the latest CNN and Fox News polls had Clinton ahead by 5 points and 3 points, respectively, and holding the edge on the electoral college map…

BREAKING NEWS JUST IN:  FBI re-opens investigation into Hillary Clinton’s private email server…oops!…dollar drops, Gold pushes higher…

Chinese Gold Imports Remain Robust

Simona Gambarini, respected commodities economist at Capital Economics, says Gold imports into China so far this year are up 9% compared to the same time frame last year, “suggesting that China’s appetite for Gold has remained robust”…Gambarini added that she’s expecting the trend to continue, particularly after the 5% drop in Gold prices at the start of the month.  “Chinese consumers tend to be very sensitive to changes in price and the recent fall in the Gold price below the $1,300 per ounce level has probably stimulated buying activity. We expect China’s demand to strengthen in the remainder of the year as Gold buying normally accelerates ahead of the Chinese New Year,” she stated…

iAnthus Capital Holdings Inc. (IAN, CSE) Boosts Financing To $20 Million

Interesting news from iAnthus Capital (IAN, CSE) this morning which demonstrates how hot the marijuana sector is right now…the company has increased its bought deal financing (led by Canaccord Genuity) to $20 million (9,525,000 units at $2.10 each)…each unit includes a half warrant…one full warrant will be exercisable to acquire one share at $3 per share for 1 year…the warrants will be subject to a 30-day forced exercise provision if the company’s daily volume weighted average share price is greater than $4 for 15 consecutive trading sessions…iAnthus raised $6.5 million to list on the CSE in September and had only 5.7 million shares outstanding entering this financing, so this tightly held, well-financed marijuana deal could gain a lot of traction yet from its current $2.60 price…best volume day yet for IAN on the CSE…

China’s Stock Market Catching Fire Again

China’s Shanghai Composite is gaining serious momentum, so what that all means will be interesting to find out…notice the breakout above the downtrend line in place since the Big Correction that started in mid-2015…

Interestingly, during the gradual advance of the Shanghai this year that’s now picking up steam, the CRB Index has been rising as well…we’ll be watching closely to see if that trend stays intact…

In Today’s Morning Musings…

1. Almadex Minerals (AMZ, TSX-V) up 50% for the week after results from El Cobre…

2. G4G Capital (GGC, TSX-V) surges on completion of financing and Shawn Ryan deal…

3. Garibaldi Resources (GGI, TSX-V) samples 56% Zn, 7.4 g/t Au and 7.2% Cu at E&L East, but that’s merely a side show for what’s to come concerning the E&L Project and its Ni-Cu-Au deposit…

4. A 5-cent non-resource speculative play…

5. Ross Beaty likes this one, a lot!…

6. Daniel’s Den – even billionaires make mistakes!…

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…

Gold has traded between $1,265 and $1,274 so far today…as of 9:30 am Pacific, Gold is up $1 an ounce at $1,268…Silver is flat at $17.61…Copper has added another 3 cents to $2.17…Crude Oil is up 67 cents at $49.85 while the U.S. Dollar Index has jumped one-third of a point to 98.96 as it continues its journey to major resistance at and just above 100…

Holdings in SPDR Gold Trust fell by 1.49% yesterday to 942.59 tonnes…

All the dire predictions about doom-and-gloom in Britain following the Brexit vote have so far turned out to be false…it was reported overnight that the U.K. economy grew by 0.5% in the 3rd quarter from the 2nd, and 2.3% year-on-year…the numbers exceeded market expectations…also, retailers in the U.K. saw stronger than anticipated sales in October…the upbeat GDP and consumer spending data came despite the U.K. Brexit vote in June which many said would cripple the British economy…

The official numbers out this week on how much more Obamacare premiums for many will cost in 2017 have stunned Americans from coast to coast (they should not have been surprised), and may also have shaken up the Presidential race as several polls are starting to tighten considerably…have you thought for a minute how Gold might react if the liberal mainstream media, the pollsters and most of the pundits were proven wrong (like with the Brexit vote) and everyone woke up November 9 with Donald Trump as President-elect?…Gold should finish the year strong no matter happens on Election Day in less than 2 weeks, but a Trump victory would immediately send bullion through the roof…if you’re looking at “shorting the system” with a huge potential payout and rather limited downside risk, our recently recommended double bull Gold Index ETF – already up 12% in less than 3 weeks – is worthy of consideration…

U.S. & China Data Disappoint

New orders for U.S. manufactured capital goods unexpectedly fell in September amid weak demand for computers and electronic products, which could temper expectations for an acceleration in business spending in the 4th quarter…the Commerce Department said this morning that non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, fell 1.2% after 3 straight months of strong gains…

The big data point for this week, which could spark some significant volatility across a broad spectrum of markets, will be Friday’s U.S. GDP report for Q3…it’s expected to show a rise of 2.5%, year-on-year…

In overnight news from Asia, profit growth in China’s industrial firms slowed in September from the previous month’s rapid pace as several sectors showed weak activity, suggesting the world’s second-biggest economy remains underpowered despite emerging signs of stability…

Tesla Beats Earnings Estimates But JP Morgan Skeptical

Tesla (TSLA, NASDAQ) shares firmed up today after the company posted its second profitable quarter ever and beat analysts’ expectations for the 3rd quarter by a wide margin…the earnings come weeks after Tesla announced record delivery and production numbers, beating out 2nd-quarter delivery and production numbers by 70% and 37% respectively…for the 2nd half of 2016, Tesla continues to back its forecast of 50,000 new vehicle deliveries, with a 4th quarter plan of just over 25,000 deliveries…still, JP Morgan put out a sell recommendation on Tesla this morning, saying the earnings report “is not as good as it looks”…

Crude Oil Update

Crude inventories posted an unexpected drop of 553,000 barrels last week, and stocks of gasoline and distillates fell more than expected, raising hopes that a long-awaited market rebalancing is finally underway…the good news on inventories was tempered, however, by doubts among some investors that OPEC will be able to implement a production cut…we believe the Saudis are determined to make that happen, and will, even if they have to absorb most of the cut…

Meanwhile, keep an eye on escalating protests in Venezuela against the rule of President Nicolas Maduro, although there’s no sign yet of any impact on the OPEC member’s Oil output…Venezuelan production has been falling this year as low prices hit investment, but the socialist country is also an economic basket case…

Suncor Energy (SU, TSX), Canada’s largest Oil and gas company, reported a better-than-expected 3rd-quarter profit yesterday thanks to strong upstream production and record Crude throughput at its refineries…

In Today’s Morning Musings…

1. Another junior jumps into the Cobalt space…

2. AMZ chart – wow!…

3. Two companies with certain similarities but very different market approaches – why one has twice the valuation and much more liquidity…

4. Clean Commodities (CLE, TSX-V) firms up on Lithium find south of Whabouchi…

5. Seabridge Gold (SEA, TSX) identifies “Quartz Rise” target in Heart of Gold Camp…

6. Aben Resources (ABN, TSX-V) has started a fresh climb from a recent bottom…

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…

Gold has traded between $1,266 and $1,278 so far today…as of 10:00 am Pacific, bullion is down $7 an ounce at $1,266…Silver is off 9 cents at $17.65…Copper is up a penny at $2.15…Crude Oil has slipped 53 cents to $49.43 while the U.S. Dollar Index has retreated one-fifth of a point to 98.58…

While expecting Gold prices to rally to $1,400 an ounce in 2017 on continued investor demand, ETF Securities looks for Silver to outperform as industrial demand drives prices…in a recently published report, analysts at ETF Securities said they anticipate Silver prices trading as high as $24 an ounce next year…

China will keep importing Gold even as the country’s output of the metal rises, according to Commerzbank…analysts cite a recent report from the Ministry of Industry and Information Technology which projected the country’s Gold supply and Gold demand up to the year 2020. “According to its figures, Gold production is set to increase from 450 tonnes last year to 520 tonnes in 2020,” Commerzbank noted. “Gold demand is expected to grow during the same period from 986 tonnes to 1,200 tonnes, which points to high Chinese Gold imports in the long-term. After all, there is obviously a big gap between supply and demand in China, with demand growth set to outpace supply growth in the projection period.”

Russia and Kazakhstan continued to boost their Gold reserves in September, data from the International Monetary Fund showed yesterday:

• Russia raised Gold holdings by 16.5 tonnes to 1,542.7 tonnes
• Kazakhstan raised Gold holdings by 4.1 tonnes to 248.2 tonnes

Holdings of the SPDR Gold Trust rose 0.34% yesterday to 956.83 tonnes…meanwhile, the extreme longs on COMEX have been reduced significantly, providing upside support for the yellow metal and the potential for a continued gradual move higher from the lows earlier this month…

A report projecting higher demand for solar panels bodes well for Silver, according to HSBC…analysts cite a report from the International Energy Agency which raised its 5-year renewable growth forecast after a record year in 2015…the most recent IEA medium-term renewable market report forecasts renewables growing 13% more between 2015 and 2021 than it did in last year’s forecast, with solar power playing an important role…the report also says more than 500,000 solar panels worldwide were installed every day last year…the IEA states that wind and solar power growth are needed to meet the Paris climate agreement’s objective of limiting global warming…Silver paste is needed for photovoltaics in solar power…

In Today’s Morning Musings…

1. Almadex Minerals (AMZ, TSX-V) – drilling down the throat of a Gold-rich cap at the Norte zone discovery…

2. Latest ETF call in the Oil space…

3. Zealous about Zeolite!…

4. Game-changer for Callinex Mines (CNX, TSX-V) and Pine Bay VMS Project…

5. Daniel’s Den – the Newfoundland Gold rush…

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…