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The behavior of the greenback, Gold, Oil and the Venture suggest something BIG could be just around the corner…

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,285 and $1,293 so far today with markets quieter than usual as a shortened trading week nears a close…the yellow metal is flat at $1,290 as of 7:00 am Pacific…Silver, poised for its first weekly decline in 3, is off 5 cents at $17.02…Copper and Nickel are both up slightly at $3.16 and $5.43, respectively…Crude Oil has surged 72 cents a barrel to $58.74 while the U.S. Dollar Index has retreated one-fifth of a point to 92.97…the greenback has hit a 5-week low against a basket of currencies, still under pressure after the minutes from the latest Federal Reserve policy meeting highlighted concern among some board members over persistently low inflation…

2. Russia is increasing its share of Gold in state reserves to “beef up national security”, central bank First Deputy Governor Sergei Shvetsov said today…the value of Gold in Russia’s international reserves managed by the central bank increased to $73.7 billion as of November 1 from $60.2 billion at the beginning of the year…

3. Oil prices have hit another 2-and-a-half-year high as North American markets tightened on the partial closure of the Keystone pipeline connecting Canadian Oilfields with the United States…the Oil spill that shut part of Keystone is supporting U.S. Crude, flipping prices into backwardation when front-month prices rise above those for future months, indicating an undersupplied market…meanwhile, traders are anticipating positive news out of OPEC next week when the cartel meets November 30…a Bloomberg report this morning said OPEC and Russia have outlined the framework for a deal to extend production cuts beyond Q1 next year…the Saudis are determined to keep pushing Oil prices higher and fighting them is like trying to fight the Fed…technically, WTIC is following a pattern consistent with a move that should take prices into the $70’s at some point in 2018, a bullish underpinning for the Venture…

4. Good sign for Q4 economic numbers – U.S. shoppers had splurged more than $1.52 billion online by Thanksgiving evening, and more bargain hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday…at the start of the holiday season, consumer spending was up 16.8% year-over-year until yesterday afternoon, according to Adobe Analytics, which tracked 80% of online transactions at the top 100 U.S. retailers…surging online sales and a shift away from store shopping have thinned the crowds typically seen at stores on Thanksgiving evening and Black Friday for the past 2 years…U.S. consumers are in strong shape and that should give Q4 economic growth a nice boost…

5. Hopefully it’s not a contrarian sign that Goldman Sachs is calling for continued robust equity markets, saying its “rational exuberance” (as opposed to “irrational”) reflects solid U.S. and global economic growth, low inflation, and slowly rising interest rates…the likelihood of Republicans passing their tax overhaul plan has also factored into Goldman’s forecast…the S&P 500 clinched its 54th closing high earlier this week – the broad index’s most records in a calendar year in more than 2 decades…the NASDAQ has also posted the most record closes in a single year, notching its 68th on Wednesday, while the Dow has hit 60 highs…

6. U.S. equities opened higher this morning following the Thanksgiving break yesterday as investors placed bets on a strong holiday shopping season…the Dow is up 41 points through the first 30 minutes of trading…the NASDAQ and S&P 500 have both hit new record highs…in Toronto, the TSX has added 30 points as of 7:00 am Pacific…Aurora Cannabis (ACB, TSX) has formally launched its hostile all-share takeover for CanniMed Therapeutics (CMED, TSX)…the price being offered by Aurora for each CanniMed share is at a 74.7% premium over the volume-weighted average price for CanniMed shares for the last 20 trading days ended November 14, but CMED is nonetheless down slightly in early trading with Aurora up 30 cents at $7.04…the Venture is 1-point higher at 794…Radient Technologies (RTI, TSX-V), which recently finalized a processing deal with Aurora, continues its ascent, hitting a new all-time high of $1.49…when we will start seeing some hostile takeovers in the exploration sector?…

7. Interesting comments by Rick Rule in an interview with Kitco’s Daniela Cambone at the San Francisco Silver & Gold Summit:  “Look at the fact that for the first time in 20 years we’re coming into an exploration market.  Whether or not you believe the NovaGold story, the fact that the market looked at an advanced exploration play and put in place a billion dollar market cap before you had an assay tells you that the market is short enough high quality exploration projects that for the first time since the early part of the decade of the 90’s, good explorationists attract the market’s attention.”

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Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,280 and $1,289 so far today ahead of the latest Fed minutes to be released in a few hours…as of 7:00 am Pacific, the yellow metal is up $8 an ounce at $1,288…Gold is getting a boost from a weaker greenback and a comment by outgoing Fed chair Janet Yellen that she is “very uncertain” inflation would soon rebound, suggesting a cautious approach to rate increases…the Fed, nonetheless, is widely expected to boost rates for a 3rd time this year at its next meeting in December…Silver has added 16 cents to $17.11…Copper and Nickel are both up slightly at $3.13 and $5.36, respectively…Crude Oil has surged 88 cents a barrel to $57.71 while the U.S. Dollar Index has retreated one-quarter of a point to 93.65…

2. Oil prices spiked today with WTIC hitting highs not seen since July 2015 after supply disruptions on a major pipeline dented Canadian deliveries to the U.S. where Crude inventories were also reported to be falling…traders attributed the jump to an 85% cut in the amount of Oil TransCanada Corp. will deliver to the U.S. in its Keystone pipeline through the end of November, announced by the company this morning…Keystone, which carries 590,000 barrels per day of Crude from Alberta’s Oil sands to American markets, was shut last week after a 5,000-barrel spill in South Dakota…meanwhile, the API said yesterday that Crude stocks dropped by 6.4 million barrels in the week to November 17, far above analysts’ expectations…a government report just released moments ago also showed a higher than expected drop in stocks but the figure is 1.9 million barrels…there is also growing consensus that OPEC will extend its production cut deal at the end of the month…this confidence, along with the current geopolitical environment, has kept ICE Brent trading firmly above $60 per barrel…

3. Favorable economic data in 2 out of 3 important reports this morning: 1) Euro zone consumer confidence is now at its highest level in nearly 17 years;  2) U.S. consumer sentiment has exceeded expectations for November with the University of Michigan reading coming in at 98.5, half a point above the consensus estimate; 3) The Commerce Department says orders for U.S. durable goods fell by $2.8 billion or 1.2% in October following September’s 2.2% rise, the first decline in 3 months…however, Core durable goods, which strips out the volatile transportation sector, increased 0.4% last month, in line with expectations…

4. Interesting comments by Rick Rule in an interview with Kitco’s Daniela Cambone at the San Francisco Silver & Gold Summit:  “Look at the fact that for the first time in 20 years we’re coming into an exploration market.  Whether or not you believe the NovaGold story, the fact that the market looked at an advanced exploration play and put in place a billion dollar market cap before you had an assay tells you that the market is short enough high quality exploration projects that for the first time since the early part of the decade of the 90’s, good explorationists attract the market’s attention.”

5. U.S. markets, closed tomorrow for Thanksgiving, opened slightly lower this morning after jumping 232 points the last 2 sessions thanks to robust quarterly results and strength in tech…in Toronto, the TSX has climbed 33 points while the Venture has eased off 1 point to 793…Datametrex AI (DM, TSX-V) was the Venture’s most active issue yesterday as it soared intra-day to a new high of 30 cents after announcing that its solely-owned subsidiary, Datametrex Blockchain, has signed a formal agreement to create a joint venture with San Francisco-based Bitnine Global…AIS Resources (AIS, TSX-V), fast tracking its Guayatayoc Lithium Project in Argentina, has added a pipeline of 4 other properties comprising the “Chiron” Project strategically located to the south of Guayatayoc in the province of Salta…President and CEO Marc Enright-Morin stated, “Ultimately, as we focus on economies of scale, our goal is to have one central processing facility handle concentrated brine from Guayatayoc and one or more other nearby properties. We have access to a lab and a pilot plant in Salta, which gives A.I.S. a competitive advantage and helps makes this property acquisition so compelling”…AIS has strong technical and fundamental momentum as it gears up for a very active finish to 2017 after recently raising $4.4 million and moving from the NEX board to the Venture…

6. More news from Fintech Select (FTEC, TSX-V) this morning with the company announcing the signing of an LOI intent with a blockchain-focused firm that has developed a revolutionary gaming token…Fintech Select says it’s excited to welcome new tokens that are derived from reputable initial coin offerings (ICOs) which are able to leverage the Selectcoin physical infrastructure to increase consumer access.  “Consumers and investors who want exposure to various new tokens, but might not understand the complex on-line processes that are involved to acquire these new assets, now have a simple solution through Selectcoin point-of-sale (POS) infrastructure, which utilizes a closed-loop card system (patent pending)”…the company says it will be announcing the terms of a definitive agreement with the firm upon its successful ICO pre-launch in the coming weeks…the definitive agreement will include key details regarding both the token and the firm…

7. First Cobalt (FCC, TSX-V) and CobalTech (CSK, TSX-V) are both up sharply in early trading after shareholders of Cobaltech voted overwhelmingly to approve the merger with First Cobalt…Trent Mell, President and CEO of First Cobalt, commented: “We now have approval from Cobaltech and Cobalt One shareholders to finalize the 3-way merger and we look forward to closing both transactions over the next 2 weeks. First Cobalt now controls approximately 45% of the prospective land in the Cobalt Camp. This historic mining camp has never seen the required land consolidation to permit district-scale exploration and we will remain very active in 2018“…Cobaltech assets include mill and refinery infrastructure – the only permitted only permitted Cobalt refinery in North America designed to produce battery materials, according to First Cobalt…

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