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Gold is playing its ‘Trump” card again and touched a high of $1,216 today…as of 10:45 am Pacific, bullion is up $16 an ounce at $1,211…Silver has surged 43 cents to $17.50…Copper has climbed 7 cents to $2.71…Nickel is up a dime to $4.49…Crude Oil is 67 cents higher at 53.30 a barrel while the U.S. Dollar Index has plunged two-thirds of a point to 99.64…

Silver is looking particularly bullish from a technical standpoint as John’s chart showed yesterday…it often leads Gold to the upside so its strength is certainly encouraging in terms of the near-term outlook for the yellow metal…Silver has also been helped this month by gains in base metals, which have prompted funds to take long positions given Silver’s industrial properties…

A 2-day Federal Reserve meeting started this morning with traders hoping for clues on the outlook for U.S. interest rates when a fresh Fed statement is issued tomorrow…

Deutsche Bank is once again in trouble with regulators, and rightly so…the German bank has agreed to pay a total of $630 million after being fined by U.S. and U.K. regulators for not maintaining an adequate anti-money laundering (AML) control framework…the fines come after investigations revealed that the bank allegedly helped launder $10-billion out of Russia through bogus trades…

In Today’s Morning Musings…

1. The growing case for the stunning events that have occurred, geologically, in the heart of the “Eskay Camp” around the E&L – and how this information could make investors fortunes…

2. Updates on CXO, PGM, GSV, CNZ…

3. Take this girl out for a date, but don’t fall in love with her!…

4. Daniel’s Den – some TNT from KNT!…

SAVE 25% on our January Special, ending soon, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

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

1. Gold has traded between $1,196 and $1,216 so far today…as of 7:00 am Pacific, bullion is up $18 an ounce at $1,214 on “safe haven” demand while Silver has jumped to a 2-and-a-half-month high near $17.50…a key resistance band for Gold is between $1,216 and $1,236 as shown on John’s 9-month chart over the weekend…increasingly, as we have been speculating, Gold seems destined to challenge its 200-day moving average (SMA) in the $1,260’s at a minimum this quarter…the U.S. Dollar Index has plunged below 100, down nearly a full point at 99.53…

2. Eurozone inflation accelerated to its fastest pace in nearly 4 years, according to preliminary data published today by the region’s official statistics office, amid a surge in global Oil and energy prices…harmonized consumer prices in the single currency area rose at an annual 1.8% clip in January, Eurostat said, up from a 1.1% rate in December and the fastest pace since February 2013…so-called core inflation, however, which strips out volatile prices for food, energy, alcohol and tobacco products, was estimated at an annual 0.9%, unchanged from the final December reading…

3. The Venture is outperforming North American markets this morning with a gain of 4 points to 806 in early trading vs. modest losses on the Dow and TSX…Golden Predator (GPY, TSX-V) has hit a new multi-year high of $1.49 as it closes in on a resistance area while Nighthawk Gold (NHK, TSX-V) has touched its best levels since early October, up 3 cents at 56 cents…

4. Has a Voisey’s-Bay type deposit formed in the heart of the richly mineralized Eskay Camp in northwest British Columbia’s infamous Golden Triangle?…a 3D geologic model of the E&L deposit is nearing completion and will be released soon by Garibaldi Resources (GGI, TSX-V), as announced by the company late yesterday, with GGI providing more information yesterday that further bolsters the case for what has already been confirmed as the first massive sulphide Ni-Cu-PGE magmatic system (with Gold and Cobalt values) in the Golden Triangle…Hazelton Group shales are interpreted to be a critical source of sulphur for the historic deposit which is on the edge of a massive gravity high measuring 35 km x 15 km…the system features high tenors (4% to 8% Ni and 2.1% to 10.9% Cu in 100% sulphide), a pyrrhotite-chalcopyrite-pentlandite mineral assemblage, and a broad magnetic high immediately to the south of the original discovery that includes a 600-m-long conduit-shaped “keel” interpreted to be a feeder zone or magma chamber…geologist, Nickel expert and mining analyst Dr. Raymond Goldie, who wrote the book on Voisey’s Bay (“Inco Comes To Labrador“) in 2005, is calling the E&L the “most prospective property in Canada” for a major Nickel sulphide discovery in an interview with BMR that we’ll be releasing more excerpts of this week…GGI is up half a penny at 13.5 cents as of 7:00 am Pacific…

5. Drilling has returned multiple high-grade intersections at Bonterra Resources’ (BTR, TSX-V) Deep Eastern Zone of its Gladiator deposit in northwest Quebec..hole BA-17–01 intersected what is interpreted as the downplunge deep eastern extension of Gladiator with 5 m grading 20.7 g/t Au (Main zone) at about 425 m below surface and 8.5 m grading 15.7 g/t Au (Footwall zone) at about 300 m below surface…BTR is up half a penny at 25 cents as of 7:00 am Pacific…

6. Richmont Mines (RIC, TSX) has jumped 64 cents to $10.42, buoyed by higher Gold prices and the release of updated mineral reserves and resources at its Island Gold mine in northern Ontario and Beaufor Gold mine in northwest Quebec…

7. Cruz Capital (CUZ, TSX-V) has been a high-volume trader in recent sessions and is up 40% this month…CUZ is one of a number of Cobalt stocks with properties in northern Ontario’s rich Cobalt district we’ve followed closely since last summer…the Cobalt sector could easily become a flavor-of-the-month at some point in 2017, and we’ll have more on that this week…

Gold has traded between $1,188 and $1,200 so far today…as of 9:30 am Pacific, Gold is up $4 an ounce at $1,195 and should continue to benefit from the more chaotic world we’re now in…Silver is flat at $17.11…Copper is down slightly at $2.64…Nickel has jumped 11 cents to $4.40…Crude Oil has retreated 38 cents a barrel to $52.79 while the U.S. Dollar Index has added one-fifth of a point to 100.54…

Gold investors need to keep an eye on India this week as the Modi government releases its 2017 budget on Wednesday amid terrible headwinds, mostly caused by the Prime Minister’s disruptive decision to invalidate more than 80% of India’s currency last November…there has been speculation that the Finance Ministry could cut the 10% Gold import tariff, though HSBC analysts say they have low expectations for such a reduction. “But if the ministry announces a cut, we would expect Gold to move higher, as India is a key physical demand market for bullion,” HSBC said…

New Gold’s (NGD, TSX) share price took a significant hit today after the company reported that initial production from its Rainy River mine in Ontario would be delayed by 3 months and that it would cost $195 million more to bring the project online…

China Dials Up The Rhetoric

China is preparing for a potential military clash with the United States, according to an article on the Chinese army’s website.  “The possibility of war increases as tensions around North Korea and the South China Sea heat up,” Liu Guoshun, a member of the national defense mobilization unit of China’s Central Military Commission, wrote on January 20 – the same day as President Trump’s inauguration.  “A war within the President’s term, ‘war breaking out tonight’, are not just slogans, but the reality,” Liu said in the Chinese commentary piece…

Nothing like a little military confrontation to get Gold and Oil humming…

Crude Oil Update

Oil prices are under mild pressure today as news of another increase in U.S. drilling activity spread concern over rising output just as many of the world’s Oil producers are trying to comply with a deal to pump less in an attempt to prop up prices…the number of active U.S. Oil rigs rose to the highest since November 2015 last week, according to Baker Hughes data, showing drillers are taking advantage of prices above $50 a barrel…

The Saudis are determined to do what they can to keep Crude Oil prices firm in 2016 ahead of a massive IPO of their state Oil company, Aramco…Saudi Deputy Crown Prince Mohammedbin Salman has said Aramco is worth between $2 trillion and $3 trillion…analysts say a public listing of 5% of Aramco could fetch between $100 billion and $150 billion, the most ever for an IPO…the Wall Street Journal has reported that the kingdom hired an energy consultant last year to assess its reserves of Crude Oil, opening a window to a closely guarded secret ahead of the IPO…the audit is a prerequisite for listing Aramco which could happen as soon as next year…the size of Aramco’s reserves will play a crucial role for investors in determining the worth of what some call the world’s most valuable company…

Venture Seasonality Chart

It’s rare for the Venture to have a bad or even mediocre February, so make sure you’re well-positioned now in order to capitalize on some profit opportunities in the month ahead…

As you can see in John’s seasonality chart, February has been the Venture’s best month on the calendar going back nearly 2 decades in terms of total returns…February’s average gain of 4.7% has outpaced that of December (4.1%) and January (3.8%), the other 2 strongest months of the year…

February is an “up” month two-thirds of the time – only December has been better (>80%) in that regard…

Venture Long-Term Chart

This Venture long-term chart demonstrates just how powerful this new bull market is…amazingly, far too many retail investors haven’t even recognized that the Venture commenced a new bull cycle early last year and that the Index started a new leg up in that cycle toward the end of December…

Note the breakout above the long-term downsloping channel, the +DI/-DI bullish cross, the strong reversal to the upside in the 300-day moving average (SMA), and the RSI(14) surge…the next big thing to watch for is an RSI(14) breakout above the long-term downtrend line going back a decade…

For reasons that few people may understand, this chart is telling us that Gold prices and/or commodity prices in general could soar anytime within the next 12 months…

In Today’s Morning Musings…

1. “Sweet Home Colorado“…

2. Very important pattern forming on Silver’s short-term chart…

3. “Probing” in on a potential multi-million ounce Gold discovery at Val d’Or East…

4. Stay Zealous for Zeolite!…

5. Daniel’s Den – food for thought!..

SAVE 25% on our January Special, ending soon, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

Sign up NOW or login as a current subscriber with your username and password.

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

1. Gold is up $2 an ounce at $1,193 as of 7:00 am Pacific, despite some strength in the greenback this morning…speculators cut their net long positions in the Gold futures market after 2 straight weeks of increases, according to the latest COT data for the week ending January 24 which also showed they raised their Silver holdings to the highest since early November…Silver gained in price last week while Gold suffered its first weekly loss of 2017…

2. The World Gold Council and State Street Global Advisors (SSGA) have launched a new Gold-backed ETF today (GLDW, NYSE) that reduces the impact of the U.S. dollar on Gold investing…the goal of the new ETF is to give investors access to the Gold market while limiting the exposure and impact of the U.S. dollar…while being backed by physical Gold, the new ETF also has exposure to a basket of 6 non-U.S. currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc…

3. U.S. consumer spending rose solidly in December, though in line with expectations, as households bought motor vehicles and a range of services amid rising wages…the Commerce Department said this morning that consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.5% after an unrevised 0.2% gain in November…consumer spending increased 3.8% in 2016 after rising 3.5% in 2015…

4. The Dow and TSX are both off more than 100 points as of 7:00 am Pacific after “U.S. history fundamentally changed” over the weekend, according to the propagandists at CNN, but media hysteria is often good for Gold prices…the Venture is steady and is gunning for its 6th straight weekly gain…

5. Colorado Resources (CXO, TSX-V) has hit a 4+ month high of 31.5 cents in early trading as chart strength continues to build…CXO has carried out extensive soil sampling at its newly-acquired Green Springs Gold Property in Nevada in order to prioritize drill targets for an upcoming program in advance of another major push in the Heart of Gold Camp with its KSP Property starting in Q2…

6. Kirkland Lake Gold (KL, TSX) has reported high-grade drill intersections approximately 300 m from the edge of known mineralization at its Taylor Gold mine WPZ deposit in northeastern Ontario…drilling from surface intersected 10.3 g/t Au over 3.2 m and 13.9 g/t Au over 1.5 m in 2 separate holes, west of WPZ…follow-up drilling is under way with 2 diamond drill rigs…surface drilling east of the shaft deposit also resulted in a newly discovered area of mineralization…Taylor became KL’s newest Gold mine last year, producing 43,000 ounces, and is clearly wide-open for expansion…KL is up 19 cents at $9.18 as of 7:00 am Pacific for a 31% gain this month…KL is also weighing its right of first refusal on a $12 million option deal announced Friday between Eskay Mining (ESK, TSX-V) and an unnamed senior mining company on ESK’s SIB Property contiguous to the past producing Eskay Creek mine…

7. Power Metals Corp. (PWM, TSX-V), which jumped 26% on news last week, hit a new 2+ year high of 47 cents in early trading this morning…last Thursday, the company announced that it has executed an agreement to acquire one of the largest Lithium brine permit portfolios in Alberta as measured by actual coverage over relevant formations, in this case the Leduc formation…Power Metals, which completed a $1 million private placement early this month at 7.5 cents per share, changed its name from Aldrin Resource in December…there was no consolidation of capital and 60 million shares are now outstanding…

You may have seen this very distinguished gentleman interviewed on BNN or speaking at mining conferences, or perhaps you even read his 2005 book, “Inco Comes To Labrador“.

If not, this short video (just under 90 seconds) is your chance to get to know a little bit about Dr. Raymond Goldie and his impressive qualifications.

Chances are you’ll be seeing a lot of Dr. Goldie in the months ahead in his capacity as a recently appointed Special Advisor to Garibaldi Resources (GGI, TSX-V).  We’re sure you’ll agree, he’s a powerful spokesperson.

Dr. Goldie’s decision to join GGI was driven by his firm belief that the property in Canada with the best chance at becoming this country’s next major Ni-Cu massive sulphide discovery is Garibaldi’s E&L in the prolific Heart of Gold Camp, host of course to Brucejack, KSM, Snip and Eskay Creek – one of the richest deposits ever discovered that produced more than 3 million ounces of Gold and nearly 160 million ounces of Silver at phenomenal grades. 

Click on the arrow to view the first excerpt of BMR’s discussion with Dr. Goldie.  The next segment will get into his fascinating thoughts on the E&L and how high-grade Nickel, high-grade Copper, and PGE’s have indeed come to the Heart of Gold Camp.

Note:  John, Jon and Daniel hold share positions in GGI.

TSX Venture Exchange and Gold

The Venture has posted 5 straight weekly gains and has remained above key resistance at 784 for 17 straight sessions, setting the stage for one of the best January performances on record for the Index.

In tonight’s report we’ll examine a very interesting “divergence” in the markets last week and what that may mean for the Venture and your trading success in February.

SAVE 25% on our January Special, ending soon, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

Sign up NOW or login as a current subscriber with your username and password.

Gold has traded between $1,180 and $1,191 so far today…as of 11:15 am Pacific, Gold is now up $2 an ounce at $1,190…Silver has climbed 39 cents to $17.13…Copper is 3 cents higher at $2.67…Nickel has added 9 cents to $4.33…Crude Oil is off 92 cents a barrel to $52.86 while the U.S. Dollar Index is up marginally at 100.59…

Gold will record its first weekly loss of 2017 which has brought out some bears again…interestingly, though, the Venture has shrugged off the drop in bullion and should close the week above 800 for the first time since the end of September…the Venture seems to be saying that the retreat in Gold in recent days is nothing more than a healthy pullback after a $90 move to the upside from the December low…

Not only was U.S. Q4 GDP a much less than expected 1.9%, for the weakest annual growth rate since 2011, but orders for durable goods in December also fell short of expectations, dropping by $1 billion or 0.4% (durables were expected to be up by somewhere between 2.2% and 3%)…the government’s durables report covers items with an expected life of at least 3 years, such as kitchen appliances, computers, furniture, autos and airplanes…last month’s decline was the 2nd straight after a 4.8% fall in November…

Comments by HSBC this morning:  “We hold to the view that the impact of many of the new (Trump) administration’s policies are Gold friendly.”

Gold 9-Month Daily Chart

A technical boost for Gold should come shortly on an anticipated reversal to the upside in its 50-day moving average (SMA), currently $1,179 where bullion bounced off from this morning…a strong band of support on this 9-month daily chart stretches from $1,171 (Fib.) to $1,195 (Fib.)…

RSI(14) has retreated to 50% where it could find new support…buy pressure (CMF) in January has been the strongest in many months, even slightly above last July-August…

In Today’s Morning Musings…

1. The Venture’s likely direction for February…

2. Alphinat’s huge week…

3. Clean Commodities‘ volume is sending a message…

4. Daniel’s Den – “Friday’s Footnotes” with updates on 6 stocks…

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…