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Gold has traded between $1,209 and $1,219 so far today…as of 11:20 am Pacific, bullion is up $6 an ounce at $1,216…Silver is 8 cents higher at $17.13…Copper has added 2 pennies to $2.61…Nickel is up 4 cents to $4.41…Crude Oil is 24 cents lower at $52.98 while the U.S. Dollar Index has fallen more than one-third of a point to 100.24 (support at 100, will it hold or will a tweet cause a breakdown?)…

Gold finished last week up 1% for its 4th straight week of gains and longest consecutive string of weekly increases since July…

For the 2nd consecutive week (ending Jan. 17), according to the latest COT report, hedge funds and money managers bought Gold and Silver in an environment of global geopolitical uncertainty as the U.S. was preparing to welcome in a new President…Gold’s net length increased 5% from the previous week…however, despite buyers jumping into the market for the last 2 weeks, bullish speculative positioning remains at extremely low levels (positive contrarian sign)…Gold’s net length is down more than 78% from its record highs…Silver’s net length increased more than 10% from the previous week but is down 46% from its record highs…

Did you notice the White House is turning Gold?…President Trump has replaced Obama’s drapes in the Oval Office with Gold drapes…is he sending a message?…

What To Do About Turkey?

The mainstream media seems to be ignoring this for now, but Turkey is one of President Trump’s first challenges on a chaotic international stage…the country is a NATO ally but has been rather passive in fighting ISIS…alarmingly, it’s also increasingly turning into an Islamist dictatorship…over the weekend, the country passed a sweeping constitutional reform package that will amplify the powers of the presidency and give President Erdogan the possibility of extending his authority by at least a decade…since the violent mutiny last July, Turkish authorities have used extraordinary powers under a state of emergency to purge more than 140,000 civil servants and military personnel accused of supporting the alleged coup plotters…40,000 of them are currently under detention…they have also jailed the top leadership of a pro-Kurdish political party that in the November 2015 national elections became the 3rd-largest party in parliament with 59 seats…as well, the government has closed more than 169 media outlets since the summer…all of this builds on a pattern that developed years ago under Erdogan who first rose to power in Turkey in 2002…

Attitude From China!

China’s government newspaper used the weekend after President Trump’s inauguration to promote itself as an alternative to what it calls the “crisis” of Western democracy and capitalism (as if China’s system isn’t rotting from within).  “Western style democracy used to be a recognized power in history to drive social development. But now it has reached its limits,” said an article in The People’s Daily, the flagship paper of China’s Communist Party.  “Democracy is already kidnapped by the capitals and has become the weapon for capitalists to chase profits.”

Crude Oil Update

Ministers representing members of OPEC and non-OPEC producers confirmed at a meeting yesterday that they had taken 1.5 million barrels per day out of the market…the producers have agreed to reduce supplies by almost 1.8 million bpd in the 1st half of this year…however, signs of a strong recovery in U.S. drilling activity have offset that bullish news this morning…data on Friday from energy services firm Baker Hughes showed that U.S. drillers added the most rigs in nearly 4 years last week…

U.S. oil producers, optimistic that higher Crude prices are here to stay, have also issued 2017 budgets that call for dramatically greater spending to tap new wells…preliminary capital spending plans released in recent weeks by more than a dozen American shale drillers, including Hess Corp. and Noble Energy Inc., show an average 60% budget increase for the group…

The Crude Oil chart remains positive, however, with very strong new support at $50 a barrel…

In Today’s Morning Musings…

1. What the HGU and the latest Silver charts are saying…

2. Game-changer for Cordoba in Colombia…

3. Golden Predator (GPY, TSX-V) touches new multi-year high…

4. Daniel’s Den – the outlook for Marathon Gold (MOZ, TSX-V) plus a must-own play under 10 cents in the area…

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 BMR Morning Musings.

1. Gold, aiming for its 5th straight weekly advance, traded as high as $1,218 overnight and is up $2 an ounce at $1,212 as of 7:00 am Pacific…HSBC commented this morning, “On balance, we believe the Trump Administration is bullish for Gold. But the market needs either words or deeds from the team before it can move decisively one way or another. This may take time, but if Gold hangs on every word from the administration, prices could be volatile.”

2. Oil prices are down nearly $1 a barrel to $52.34 as of 7:00 am Pacific as signs of a strong recovery in U.S. Oil drilling activity outweighed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December, having already taken 1.5 million barrels per day out of the market…

3. The Venture has pushed past 800 in early trading to its highest level since October 1…the Index, enjoying its 6th-best January on record so far, is up 7 points to 804 as of 7:00 am Pacific…in Toronto, the TSX has retreated 21 points while the Dow has slipped 8 points…

4. Cordoba Minerals (CDB, TSX-V), the best-performing stock on the BMR Top Opportunities List for 2016 with a gain of 461%, has hit a new multi-year high this morning after intersecting a bonanza Gold vein at its San Matias Project in Colombia…drill hole ACD036 at Alacran returned a 0.90 m section of 4,440 g/t Au plus 10.25% Cu, 24.70% Zn and 347 g/t Ag…the intersection is hosted in a late-stage, chalcopyrite-sphalerite-carbonate-coarse Gold vein that overprints earlier chalcopyrite-pyrrhotite Copper-Gold mineralization…the high-grade vein is similar to carbonate base metal (CBM) vein systems found globally, including Barrick Gold’s Porgera Gold mine and also Continental Gold’s Buritica deposit, located south of Cordoba’s licences along the Mid-Cauca belt in Colombia…CDB is up 15 cents at $1.08 as of 7:00 am Pacific…

5. Gold Standard Ventures (GSV, TSX-V) has extended the North Bullion Gold system 180 m to the north of previous drill holes at its Railroad-Pinion Project in Nevada’s…results from 4 more core holes from the 2016 program at North Bullion were released this morning…drill hole RR16–05 returned 19.8 m of 4.40 g/t Au which includes a higher grade interval of 5.3 m of 7.02 g Au/t…this result follows RR16–01 (announced on August 30, 2016) which intersected 65.6 m of 3.17 g/t Au located west-northwest of previous drilling…GSV is up 8 cents at $3.05 through the first 30 minutes of trading…

6. NexGen Energy (NXE, TSX) has started its winter drill program its 100%-owned Rook I Property in the Athabasca basin, Saskatchewan…the program will consist of a minimum 35,000 m of diamond drilling using 7 drill rigs…4 rigs are now fully operational on the Arrow deposit, directed at continued expansion as well as delineation drilling…the remaining 3 drill rigs are on site and will commence drilling this week…the program is budgeted at $14 million (CDN) and is fully funded with cash on hand of approximately $70 million…NXE is up 2 pennies at $3.29 as of 7:00 am Pacific…

7.  MGX Minerals (XMG, CSE) announced this morning that it has formed PetroLithium Corp. of America, a 100%-owned U.S. subsidiary of the company…MGX has mandated PetroLithium Corp. to acquire Oil field assets, including brine-bearing Lithium resources, Oil wells, and existing Oil and gas infrastructure…staking and Oil well acquisition activities in Lithium-brine-bearing areas of Utah have already commenced…additionally, acquisition and exploration activities are expected to commence shortly in Colorado, Texas and Arkansas…all states are host to significant current and past-producing Oil production associated with areas of enriched minerals including Lithium…XMG is up 8 cents at 77 cents, 11 cents off its all-time high set earlier this month…

TSX Venture Exchange and Gold

The Venture has posted 4 straight weekly gains, matching Gold, and has remained above key resistance at 784 for 12 straight sessions, setting the stage for what could be one of the best January performances on record for the Index.

To date, through the first 14 sessions of 2017, a 4.6% advance represents the Venture’s 6th best gain for its first 14 January trading days going back to 2002 (the best was 9% in 2006 when the Index climbed further for a record January run of 15%).

Several of our new 2017 picks are gaining immediate traction including Tinka Resources (TK, TSX-V) which surged 28% last week while Globex Mines (GMX, TSX) jumped 23%.

Find out in today’s report which company is set to come to life and deliver investors similar or even better immediate returns.

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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Gold has moved little on this historic day with Donald Trump now in the White House, though the trend over the past couple of hours has been a gradual firming up in bullion and some weakness in the greenback…as of 11:00 am Pacific, Gold is up $1 an ounce at $1,206…Silver is unchanged at $16.98…Copper is steady at $2.59…Nickel has slid another 6 cents to $4.39…Crude Oil has climbed $1.16 a barrel to $52.53 while the U.S. Dollar Index is down one-fifth of a point at 100.96…

The Barack Obama era is now over…Donald J. Trump was sworn in as the 45th President of the United State this morning and then delivered a powerful populist message with the shortest inaugural address (1,433 words and just 16 minutes) in 40 years:  “We are transforming power from Washington, D.C., back to you, the people,” Trump proclaimed early in his speech…

President Trump will turn Washington upside-down given the fact he enters the White House with very different life experiences and a unique perspective on how government should operate…how that impacts the markets will be fascinating to watch…he’s the only President who has never had previous government or military service – for that reason, he has a tremendous opportunity to become one of the most transformational Presidents in American history…he has started a movement, one that could gain much more acceptance over the next couple of years depending on results…

Donald Trump was sworn in this morning as the 45th President of the United States.

At a time when partisanship should be put aside and all Americans should celebrate the blessing of a peaceful transition of power and wish the best for a new President, as they rightly did for Obama in 2008, many Democratic members of Congress boycotted today’s inauguration…that will be their loss, however, when the history books look back at this important day…

Meanwhile, on his first full day in office, President Trump will be greeted by what could be one of the largest political protests in the U.S. in recent memory…throngs of demonstrators, perhaps 200,000 or even more, are expected to gather tomorrow morning for the Women’s March on Washington, D.C. – likely just the beginning of anti-Trump protests and definitive proof that many alt-left groups see the new President and Republican Congress as a serious threat to reverse much of the Obama “legacy”…the “establishment” is also nervous, and so it should be…it’s time to start doing things differently and the blue collar billionaire will be a man of action in the Oval Office, often unconventional, just as he has been in business and since launching his political career only 18 months ago…countless people have made the mistake of underestimating him (many still are)…

Canadian Prime Minister Justin Trudeau issued a congratulatory statement as Trump was sworn in as America’s new President:

“On behalf of the Government of Canada, I would like to extend my congratulations to Donald J. Trump on his inauguration as 45th President of the United States of America.  Canada and the United States have built one of the closest relationships between any two countries in the world. This enduring partnership is essential to our shared prosperity and security. Together, we benefit from robust trade and investment ties, and integrated economies, that support millions of Canadian and American jobs. We both want to build economies where the middle class, and those working hard to join it, have a fair shot at success. Canada and the United States have unparalleled cooperation on matters of national security, and have always worked side by side to protect our citizens and ensure our shared border is secure.  We look forward to working with President Trump, the U.S. Administration, the 115th Congress, and officials at the state and local levels to restore prosperity to the middle class on both sides of the border, and to create a safer and more peaceful world.”

Crude Oil Update

After yesterday’s International Energy Agency’s monthly report suggested global oversupply is easing, Crude Oil got another boost today on expectations that a weekend meeting of the world’s top Oil producers would demonstrate compliance to a global output cut deal…Saudi Arabia’s energy minister said that 1.5 million barrels per day had already been taken out of the market…

Oil futures held gains after Oilfield services firm Baker Hughes reported within the last hour that its weekly count of Oil rigs operating in the U.S. increased by 29 to 551, compared with 522 at this time last year…that marked the largest weekly increase since a recovery in the rig count began in June, and the 11th week in 12 that drillers added rigs…

In Today’s Morning Musings…

1. Tinka takes off to a 2-year high…

2. “No other place like this on the planet” – new insights on the “Heart” of the Golden Triangle…

3.  Globex and Natan release impressive high-grade channel sample results from the Montalembert Gold Property…

4. Daniel’s Den – a superb new growth stock, and “Friday’s Footnotes” with updates on 6 juniors…

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 BMR Morning Market Musings.

1. Gold has traded between $1,198 and $1,210 so far today and is off $3 an ounce at $1,201 as of 7:00 am Pacific…the U.S. Dollar Index is steady while Crude Oil has surged $1.33 a barrel to $52.70 on expectations that a weekend meeting of the world’s top Oil producers would demonstrate compliance to a global output cut deal…

2. It’s an historical day in America as Donald Trump will be sworn in as the 45th President of the United States within the next 90 minutes…as a successful businessman and investor, Trump will enter the White House with a unique perspective on how government should operate…he’ll be the only President who has not had some form of military or government service in his past…at 70 years and 7 months, he’ll also be the oldest person to first take the oath of office (the next oldest, at 69 years and 11 months, was Ronald Reagan)…

3. Equity markets are embracing Inauguration Day…the Dow is 93 points higher as of 7:00 am Pacific…in Toronto, the TSX has shot up 144 points while the Venture has added 2 points to 795…

4. Natan Resources (NRL, TSX-V) is up a penny at 22 cents after high-grade results were released this morning from a channel sampling program carried out last year at its optioned Montalembert Gold Property in northern Quebec…3 continuous samples at the Galena vein assayed 40.3 g/t Au and 5 g/t Ag over 3 m, while a channel sample taken 18 m to the south of that returned 438.2 g/t Au and 145.2 g/t Ag over 1 m…Natan is studying the channel results along with the recent grab sampling, historical trenching, detail mapping and geophysical surveys in order to design the next phase of exploration including drilling…the company is well-financed, recently having raised $4 million…

5. Colorado Resources (CXO, TSX-V) has already completed extensive soil sampling at its recently acquired Green Springs Gold Property in Nevada, expanding previously known geochemical anomalies at Green Springs…Colorado is preparing for a first round of drilling and the exploration emphasis will be on expanding the known mineralization associated with the Lower Chainman Formation and testing for higher grade feeder structures and other potentially good host rocks along the 3-km long mine trend…outside the main trend are 200 known and largely unexplored jasperiod bodies…a drill hole in 2015 at Green Springs, not yet followed up, returned 41.1 m of 4.6 g/t Au near-surface from an unmined zone…CXO is unchanged at 25 cents through the first 30 minutes of trading…

6.  Garibaldi Resources (GGI, TSX-V) has completed the first 2 holes of a maiden drill program at its Tora Tora Property near Princeton, B.C, north of the producing Copper Mountain mine, and Phase 1 drilling is being expanded there this quarter…meanwhile, more details are expected shortly from GGI’s flagship E&L Project, 11 miles southwest of Eskay Creek, where the district’s first magmatic Ni-Cu-PGE-Au-Co massive sulphide system has been confirmed…GGI is up half a penny at 13.5 cents…

7. Uranium stocks are finishing the week on a positive note after a mid-week pullback…Purepoint Uranium (PTU, TSX-V) is up half a penny at 17.5 cents while NexGen Energy (NXE, TSX) is back within a few pennies of its all-time high after dipping as low as $2.91 yesterday…NXE is up 7 cents at $3.37 as of 7:00 am Pacific…

Gold has traded between $1,195 and $1,207 so far today…as of 11:00 am Pacific, bullion is down $3 an ounce at $1,201…Silver is off a dime at $16.92…Copper is 2 cents lower at $2.59…Nickel has slid 13 cents to $4.45…Crude Oil has climbed 35 cents to $51.43 a barrel  while the U.S. Dollar Index is up one-tenth of a point to 101.46…

Better than expected U.S. jobs and housing data pushed 10-year bond yields to their highest since January 3 today, putting some minor pressure on Gold…support has held, however, around a Fib. level in the mid-$1,190’s…how bullion finishes the week tomorrow will be important…

HSBC believes the nature and direction of President-elect Donald Trump’s economic policies are still not clear and may yet impact Federal Reserve policy and Gold.  “According to traditional macroeconomic theory, large tax cuts and infrastructure spending would likely – all things being equal – accelerate the pace of projected rate hikes.  This would help prevent the economy from overheating. But Mr. Trump may not deliver the fiscal stimulus that markets expect. Senior Republicans in Congress may not endorse substantial increases in infrastructure spending,” HSBC stated…

European Central Bank President Mario Draghi said today that policy makers aren’t convinced a recent pickup in inflation will be sustained, and asked German savers to be patient as they clamor for higher interest rates…euro zone consumer prices rose 1.1% in the year through December, the fastest rate of inflation since September 2013…but in Germany, prices rose by 1.7%, prompting louder calls for an end to ECB stimulus in the euro zone’s largest and most powerful member…

The ECB announced this morning that it would keep its monetary policy unchanged, though Draghi added that the bank stood “ready” to increase its asset purchases in size and duration if it becomes necessary…

Crude Oil Update

OPEC’s total output began falling in December after its members agreed to slash output, the cartel said yesterday, but compliance this month will be critical as the group works toward throttling back its output by 1.2 million barrels a day…the largest production cut in December came from Saudi Arabia, which exports more Crude than any other country and is OPEC’s most powerful member…the kingdom reduced output by 149,000 barrels a day to 10.47 million bpd, drawing it closer to its agreed level of about 10 million barrels a day…Saudi Arabia’s energy minister, Khalid al-Falih, has said the country has actually reduced production much more this month, going below 10 million bpd…Saudi officials have suggested they would cut even further and have played down American producers’ ability to thwart their plans to raise prices this year…

The Wall Street Journal reported this morning that ISIS has ramped up sales of Oil and gas to the regime of Syrian President Bashar al-Assad, providing vital fuel to the government in return for desperately needed cash…despite the Assad regime’s insistence that it’s dedicated to eradicating ISIS with the help of allies Russia and Iran, the irony is that Syria’s purchases from ISIS are helping sustain the radical Islamist terrorists amid unprecedented military pressure on the group…

Oil and gas sales to Assad’s regime are now ISIS’ largest source of funds, replacing revenue the group once collected from tolls on the transit of goods and taxes on wages within its territory…

Teck Resources Ltd. (TECK.B, TSX) & The Parallels With 2008-2009

Interesting long-term monthly chart for Teck Resources (TECK.B, TSX) which shows distinct parallels between 2008–2009 and 2015–2016…the key takeaway is that this chart confirms the resource sector is in a new bull market and that TECK.B has significant further upside potential (it’s trading at just above $31 this morning)…

The 2008 and 2015 drops are strikingly similar, as are the 2009 and 2016 reversals…even sell pressure/buy pressure (CMF) are almost identical for the 2 periods…

After Teck’s move to the upside began in 2009, it didn’t top out until late 2010/beginning of 2011…likewise, it’s reasonable to believe Teck will enjoy a positive 2017 but its percentage gain increase of course won’t be what it was last year when the stock jumped 6-fold…

In Today’s Morning Musings…

1. A 2-cent stock that is being accumulated…

2. 11 juniors release drill results today – 4 push higher, 6 fall and 1 is unchanged…

3. What Colorado Resources (CXO, TSX-V) has learned at KSP…

4. Daniel’s Den – the undisputed champion of telehealth services will thrive, no matter what happens with Obamacare…

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 BMR Morning Market Musings.

1. Gold has traded between $1,198 and $1,206 so far today, and is down $6 an ounce at $1,198 as of 7:00 am Pacific…the U.S. Dollar Index, meanwhile, is up one-quarter of a point to 101.59…both will be impacted today by comments from Treasury nominee Steven Mnuchin at his confirmation hearing…

2. Gold endured a normal pullback on profit taking yesterday, its biggest fall in more than a month, after comments from Fed chair Janet Yellen were interpreted as hawkish…she indicated the U.S. central bank would press ahead with interest rate increases…Yellen speaks again tonight in San Francisco (5:00 pm Pacific) about the economic outlook and monetary policy on the eve of President-elect Trump’s inauguration…

3. The Venture is flat at 792 as of 7:00 am Pacific…the runaway volume leader is Encanto Potash (EPO, TSX-V) which has jumped 6 cents to 15 cents on nearly 8 million shares (all exchanges) after announcing post-market yesterday that it has finalized an historical offtake agreement with the National Federation of Farmers’ Procurement, Processing and Retailing Cooperatives of India Ltd. (NACOF)…the agreement provides for the supply of a minimum of 5 million tonnes per year for a guaranteed period of 20 years for muriate of Potash (MOP), the most common potassium source used in agriculture…food security obtained by procurement of an alternative supply of MOP and eliminating middlemen for Indian farmers is a fundamental objective for NACOF…

4. Otis Gold (OOO, TSX-V) released positive results this morning from the final 12 holes of 2016 drilling at its Kilgore Gold Project in Idaho…they included 128 m @ 1.79 g/t Au (hole #353), 27.5 @ 2.6 g/t Au and 80.8 m @ 1.87 g/t Au (hole #354), 120.4 m @ 1.18 g/t Au (hole #349) and 74.6 m @ 1.01 g/t Au and 35.9 m @ 1.12 g/t Au (hole #352)…the 40-hole drill program confirmed the presence of significant Gold mineralization in the underexplored Aspen Formation sedimentary host rocks…a majority of these intercepts were of higher grade and longer intervals than most of those encountered in prior drilling at Kilgore and thus demonstrate a clear potential to increase the overall size and grade of the deposit…the company is now working on a new resource estimate and plans for 2017 drilling…OOO is up 2.5 pennies at 30.5 cents as of 7:00 am Pacific…

5. Gold Standard Resources (GSV, TSX-V) provided fresh drill results this morning from its Railroad-Pinion Project in Nevada…drill hole DS16–33, collared on the southern edge of the North Dark Star, returned 33.1 m of 0.62 g/t Au within a larger lower-grade interval, confirming the finding from DS16–31 that the North Dark Star and the Main Dark Star oxide Gold deposits are connected and form a continuous Gold zone with a strike length of approximately 1,300 m…GSV is up slightly at $2.86 through the first 30 minutes of trading…

6.  Precipitate Gold (PRG, TSX-V) is off sharply in early trading after disappointing low-grade results from the first 5 holes of drilling at its Ginger Ridge prospect in the Dominican Republic…the drill program, following up on a 2014 discovery, continues…just recently, GoldQuest Mining (GQC, TSX-V) made a VMS discovery in a drill hole just 2 km northwest of Ginger Ridge…

7. Callinex Mines (CNX, TSX-V) is another company taking a hit this morning for not meeting drill result expectations…CNX is off 12 cents at 31.5 cents after results from 2 holes at its continuing drill program at Pine Bay (VMS) near Flin Flon returned no better than 4.7% Cu and anomalous Zinc and Gold over less than 1 m…