November 13, 2017
7 @ 7:00
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 $1,275 and $1,280 so far today…as of 7:00 am Pacific, the yellow metal is up $2 an ounce at $1,277 after a slight gain last week…bullion got a mild bid overnight on Chinese buying interest as the onshore Gold premium moved above $10 in early Shanghai trade…a large seller shook up quiet trading in Gold on Friday…minor losses accelerated shortly after 8 am Pacific as volume spiked on a sale of about 40,000 contracts, or 4 million ounces of Gold, which led prices down $8 in a span of about 15 minutes…traders said the move looked like the liquidation of a large position in the Gold market, but with an unclear catalyst…Silver has climbed 11 cents to $16.97…Copper and Nickel are both strong today with Copper up 6 pennies to $3.12 while Nickel has jumped 17 cents to $5.63 after a healthy pullback last week…Crude Oil is 11 cents higher at $56.85 while the U.S. Dollar Index is flat at 94.53…the Dollar Index lost some technical momentum last week but has strong support between 93 and 94…
2. Nickel prices have bounced back today after 2 straight losing sessions, getting support from output cuts in major steelmaking cities in China while Vale has temporarily suspended operations at its Coleman mine near Sudbury due to safety concerns…Nickel has climbed about 25% this year as it begins to benefit from new demand expectations created by projected growth in electric vehicle sales…
3. Fresh data show that Crude output by OPEC members dropped by 0.46% to 32.59 million barrels a day in October, compared with the month prior…the move was driven by reduced production in countries including Iraq, Nigeria and Iran…OPEC also raised its forecasts for world Oil demand growth for the current year and 2018…the cartel now expects demand growth to rise by 1.53 million barrels a day in 2017 and 1.51 million barrels a day in 2018…the rebound in Oil prices, which could really intensify if tensions continue to escalate between Saudi Arabia and Iran, has certainly stimulated the U.S. shale machine…Baker Hughes released numbers Friday showing the U.S. Oil rig count climbed by 9 to 738, the largest gain since June…data from the U.S. Energy Information Administration (EIA) shows American shale Oil producers have stepped up their output despite the slowdown in drilling activity in recent months…the EIA projects U.S. production could reach “a record level of more than 6 million barrels a day in November”…
4. Chasing Gold in Egypt again – the country expects to finalize contracts by the end of the year with local and foreign companies which were awarded 5 Gold mining concessions, the energy minister said today…Egypt began accepting bids in January for the 5 concessions which were offered in the country’s first tender for new Gold exploration since 2009…government officials want Gold production to become a growth area for the economy which has struggled since a 2011 uprising drove foreign investors and tourists away…
5. Pretium Resources (PVG, TSX), operating one of the world’s highest-grade Gold mines in the prolific Eskay Camp, posted an adjusted profit of $8.3 million in the the 3rd quarter when commercial production was declared at the Brucejack mine at the beginning of July…output for Q3 totaled 82,203 ounces of Gold and 83,233 ounces of Silver…all-in sustaining costs averaged $788 an ounce and are expected to decrease as the mill feed grade ramps up…
6. Mobile chipmaker Qualcomm has rejected rival Broadcom’s $103 billion takeover bid, saying the offer “dramatically” undervalues the company…meanwhile, it’s a bad day for General Electric as the company slashed its 2018 profit forecast and also cut its annual dividend in half from 96 cents to 48 cents, meaning shareholders are getting $4.1 billion less in dividends each year…it’s the 8th-largest dividend cut in the history of the S&P 500 by dollar value..
7. The Dow is flat as of 7:00 am Pacific…in Toronto, the TSX is up 8 points as of 7:00 am Pacific while the Venture has added 3.5 points to 800 – the first time since early June the Index has touched that level…key resistance is in the very low 800’s…an interesting technical feature on the short-term Venture chart is a cup-with-handle pattern with the Index now trying to break out above the recently formed handle as well as Fib. resistance at 803…Cannabix Technologies (BLO, CSE) is showing strength again to begin the new week, up 9 cents at 85 cents through the first 30 minutes of trading…Calyx Bio-Ventures (CYX, TSX-V) is up slightly on continued high volume after a nice move last week following the completion of a $1 million financing and an update on the company’s plan to deploy its first data mining facility…Fintech Select (FTEC, TSX-V) is up in early trading after announcing that it has signed a definitive agreement with 8159181 Canada Inc., a cryptocurrency exchange dealer, for the rollout of the company’s national point-of-sale cryptocurrency purchasing solution…chart support at 31 cents, previous Fib. resistance…Radient Technologies (RTI, TSX-V) is showing a similar bullish cup-with-handle pattern as the Venture after closing last week at 79 cents…
The Template For The Next 10% Move In Garibaldi Resources
The Nickel Mountain Magma Highway
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
November 12, 2017
The Venture Week In Review And A Look Ahead
What distinguishes the “winners” from the “losers” on the Venture?…
BMR subscribers have enjoyed market-trouncing returns in 2017 through our boots-on-the-ground research and unbeatable technical and fundamental analysis of speculative niche sectors.
If you’d like to know our service better, and receive a complimentary BMR eAlert in early November for a top opportunity in Q4 as a current non–BMR subscriber, simply click on the link below and follow the simple instructions.
To read the rest of today’s Week In Review And A Look Ahead, sign up NOW or login as a current subscriber with your username and password.
Questions for us? Email us at: [email protected].
November 11, 2017
Lest We Forget
Lest We Forget
Today in Canada and the United States is a day that has been set aside to honor those who have served and are serving (including some of our subscribers) in our respective armed forces – it is their collective bravery that has given our two great nations the freedoms that we enjoy and, unfortunately, often take for granted.
Recently and over the decades, so many of our soldiers have come home with all sorts of scars – physical scars, emotional scars, and mental scars (a report earlier this week revealed that the number of homeless veterans on the Canadian federal government’s radar screen continues to grow with nearly 800 veterans now in that data base, a disgrace). Historically, well over 100,000 Canadians have paid the ultimate price and have died fighting for the freedoms that so many of us take for granted.
This particular Remembrance Day in Canada, and Veterans Day in the United States, takes on even greater meaning given both countries’ current engagement against Islamist terrorist groups plus other very serious threats we face.
Here at BMR we hope that you will join us as we remember and honor our men and women who have served and who are serving in our armed forces, protecting our continent and standing up for freedom and liberty throughout the world. We are truly grateful for their bravery and sacrifices, and may God continue to protect and bless our two nations.
In Flanders Fields
By Lieutenant Colonel John McCrae, May 1915
In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place: and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.
We are the Dead: Short days ago
We lived, felt dawn, saw sunset glow,
Loved and were loved: and now we lie
In Flanders fields!
Take up our quarrel with the foe:
To you, from failing hands, we throw
The torch: be yours to hold it high
If ye break faith with us who die,
We shall not sleep, though poppies grow
In Flanders fields.
Lest We Forget
The BMR Team
November 10, 2017
7 @ 7:00
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 $1,282 and $1,287 so far today…as of 7:00 am Pacific, the yellow metal is flat at $1,284 as it tries to squeeze out a modest weekly gain after declining in 7 out of the last 8 weeks…Silver is up 9 cents at $17.09…Copper and Nickel are steady at $3.08 and $5.56, respectively…Crude Oil is relatively unchanged at $57.16 after benefiting this week from Saudi-Iran turmoil…Goldman Sachs is warning of greater price volatility ahead, citing rising tensions in the Middle East along with soaring U.S. Oil production…the U.S. Dollar Index is off one-fifth of a point at 94.29…
2. BNP Paribas looks for Gold to start 2018 weak, rally into mid-year on low real interest rates, but then turn lower as nominal rates rise…in an outlook report released this morning, the French bank listed a 2018 average Gold price forecast of $1,255 an ounce, the same as analysts expect this year…however, BNP Paribas’ quarterly average forecasts for 2018 range from a yearly low of $1,210 in Q1 to a high of $1,325 in Q2…
3. More details from the latest Gold Demand Trends report from the World Gold Council (WGC)…buying from Gold-backed exchange-traded funds edged up by only 19 tons, 87% less than they bought in the same quarter last year…these funds had to compete against “a soaring stock market” with “a contained Gold price contrasting poorly against that,” said Alistair Hewitt, the WGC’s head of market intelligence…still, there were some big players still buying…central bank demand for Gold went up 25%, with Russian and Turkish central banks leading the way, the report said…meanwhile, interest in the precious metal by the technology sector is up for the first time since 2010 thanks to the increased use of Gold in chips and wireless devices…total tech demand was up 2% at 84.2 tonnes in Q3 – a 4th straight quarterly advance…the increase brought this year’s number to 244.4 tonnes…
4. A measure of U.S. consumer sentiment dipped in early November, as respondents’ expectations of current and expected economic conditions declined slightly…the University of Michigan announced this morning that its preliminary reading on consumer sentiment was 97.8 in November, below expectations and down from a more than decade high of 100.7 in October…
5. Bitcoin fell today to its lowest since November 1 as traders bet on “bitcoin cash” instead…the offshoot digital currency surged more than 20% to its highest since August 20, according to CoinMarketCap…bitcoin cash split off from the original version of bitcoin in August as a minority group of developers decided to implement an upgrade in an effort to increase transaction speeds for the digital currency…
6. Tech is hot – investors poured a record $1.3 billion into funds managing tech shares over the past week, contrasting with a picture of ebbing inflow into world equity vehicles and losses on U.S. stock funds, Bank of America/Merrill Lynch (BAML) said today…the data, which tracks flows through Wednesday, also showed some alarm over junk debt, with some $600 million in outflows from high-yield bond funds, an 8-week high…world stocks pushed lower today for the 2nd straight session, albeit after the longest daily winning streak in almost 11 years…
7. The Dow has retreated 43 points in early trading after falling slightly more than 100 points yesterday…the TSX remains above 16,000 and is down just 12 points as of 7:00 am Pacific…Klondex Mines (KDX, TSX) reported a net loss in the 3rd quarter (vs. a profit in the same quarter of 2016) as revenue fell on lower metal sales and weaker prices…Gold Standard Ventures‘ (GSV, TSX) drill hole DS17–20 has intersected 136 m of 2.67 g/t Au approximately 30 m north of DS16–03B (101.2 m @ 1.54 g/t Au) and approximately 90 m south of DS16–08 (126.2 m @ 4.07 g/t Au)…these new results are expected to significantly improve the grade of the current block model in the northern portion of Dark Star at the company’s 100%-owned/controlled Railroad Project in Nevada…the Venture is steady at 793…Calyx Bio-Ventures (CYX, TSX-V) is up half a penny at 13 cents after announcing completion of a $1 million financing and the signing of an LOI to lease an additional facility that will house the company’s new corporate head office and a “state-of-the-art environment to execute on its strategic plan to deploy its first data mining facility”…
The Template For The Next 10% Move In Garibaldi Resources
The Nickel Mountain Magma Highway
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
-
-
-
-
Press "Reload" for fresh quote