5. Ripple surged more than 30% this morning to a new all-time high, briefly surpassing Etherum as the 2nd-largest cryptocurrency by market capitalization…officially called XRP, Ripple climbed nearly 33% to a record high of $1.90 before pulling back slightly, according to CoinMarketCap…the digital currency briefly had a market cap of more than $71.8 billion, a few hundred million greater than Ethereum at the time…
December 31, 2017
December 30, 2017
December 29, 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. The greenback is on the defensive, allowing Gold to recapture $1,300 this morning on the final trading day of 2017…Gold has ranged between $1,294 and $1,305 so far today and is up $7 an ounce at $1,302 as of 7:00 am Pacific…the yellow metal, up about 13% in 2017, will record its best yearly performance since 2010…Silver has added 9 cents to $16.93…Copper is down slightly at $3.26, Nickel has jumped to $5.60 while Zinc has edged a penny higher to $1.50…Cobalt is steady near decade highs at $34.25…Crude Oil has added 20 cents to $60.04 while the struggling U.S. Dollar Index has retreated one-third of a point to 92.29…
2. China’s war on polluting industries, its supply reforms and robust demand growth have this year combined to create a bonanza for Copper and Aluminum which will post their biggest yearly advances since the turn of the decade…there has been some profit taking in Copper today after an all-time record 16-session winning streak, but prices have soared about 30% in 2017 and are holding near 4-year peaks…a major trigger for Copper came after China proposed a ban imports of scrap metal from the end of next year, fueling expectations it would import more refined metal and products…in addition, jitters about supply disruptions have grown more intense, giving Copper another boost…analysts at Citi say there are over 30 labor contracts, covering around 5 million tonnes of mine supply, due to expire next year, most of them in Chile and Peru…
3. U.S. Oil prices have climbed above $60 a barrel on the final trading day of the year, hitting their highest since mid-2015 as an unexpected fall in American output and a decline in commercial Crude inventories stoked buying in generally thin trading…the deep freeze that is taking control of most of the U.S. is also providing support to the Oil complex…international benchmark Brent Crude futures are also firm, supported by ongoing supply cuts by top producers OPEC and Russia as well as robust demand from China…Oil prices are set to close out the year with strong gains…Brent is up 17% in 2017 while WTI has climbed 12%…prices are up nearly 50% since the middle of the year after a springtime slump..
4. The Dow is flat as of 7:00 am Pacific…the S&P 500 is on pace for its best year since 2013 with a gain of 20%, led by technology and consumer discretionary stocks…only energy and telecommunications have declined in 2017…in Toronto, the TSX has slipped 54 points after 30 minutes while the Venture has surged another 9 points to 851…technically, the Venture hasn’t shown this kind of momentum since 2016…the first key breakout just recently was above the 2017 downtrend line on the 2-year weekly chart…the Index is now threatening to post a second key breakout, through the 2016 and 2017 highs at 850, which could be confirmed as early as next week…the significance of the Venture’s strong December cannot be underestimated as what this is leading to is the 3rd major defining moment in Venture trading going back to the fall of 2014…Hive Blockchain Technologies (HIVE, TSX-V) has closed the final $65-million tranche of its $115 million private placement at $3.15 per unit…
6. Bitcoin has stabilized, moving back toward $15,000 after finding short-term support this week at $13,500…yesterday, South Korea sent the cryptocurrency sliding again after moves to curb speculation and protect retail customers…the South Korean government has been among the loudest voices of concern about a possible speculative bubble in the largest cryptocurrency, which is still up about 1,500% for the year despite a nearly 30% decline from this month’s highs…South Korea is something of a bellwether for global Bitcoin demand…customers there are paying premiums about 20% over prevailing international rates…
7. Many mining companies prefer British Columbia because of its generally abundant water supplies, so it’s ironic that Centerra Gold (CG, TSX) has had to temporarily suspend mill processing operations at Mount Milligan due to insufficient water…processing is expected to resume at partial capacity by the end of January and at full capacity after the spring melt, the company says…Centerra reports that last spring and summer were drier than normal, with the water shortage now exacerbated by cold temperatures that produced a greater-than-expected loss of water volumes in the tailing storage facility due to ice formation…year to date, the Mount Milligan mine has churned out approximately 225,000 ounces of payable Gold and approximately 54 million pounds of payable Copper…
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
December 28, 2017
7 @ 7:00
Check back later today for an additional post and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,286 and $1,296 so far today, touching a 4-week high…as of 7:00 am Pacific, bullion is up $5 an ounce at $1,292…Silver has added 9 cents to $16.75…Copper has climbed another 3 pennies to $3.29 while Nickel and Zinc are both up slightly at $5.47 and $1.49, respectively…Crude Oil is flat at $59.61 while the U.S. Dollar Index has retreated one-tenth of a point to 92.92…
2. Copper prices are up for the 16th consecutive session, marking the industrial metal’s longest winning streak ever, according to FactSet data dating back to 1984…robust demand from China has propelled Copper to its highest level since July 2014 with prices up 30% for the year…reports that China’s largest producer, Jiangxi Copper, has been ordered to halt output for a week to curb pollution have fueled additional gains in this final trading week of 2017…
3. Gold is also finishing 2017 on a powerful note, rallying for 7 straight sessions and pushing above its 50, 100 and 200-day moving averages (SMA’s)…bullion is benefiting in part from a recent dip in U.S. 10-year bond yields while the sputtering U.S. Dollar Index is down more than 9% so far this year, on course for its biggest annual loss since 2003…over the last several years, Gold has experienced a strong run during the 1st quarter of the year and there’s every reason to believe that trend will continue in 2018, meaning +$1,300 Gold can’t be far off…with so many investors heavily focused on Bitcoin/blockchain and marijuana stocks, there’s also ample room for fresh speculative money to pivot into high quality Gold and other stocks in the metals space…
4. Another volatile day for Bitcoin as the cryptocurrency fell by as much as 11% before rebounding…South Korea is a major hub for Bitcoin and the latest moves came as the South Korean government announced it would be implementing new rules in a bid to regulate trade in the digital currency…
5. The Dow is up 34 points as of 7:00 am Pacific…both the Dow and the S&P 500 are trading within half a percent of their all-time highs hit on December 18…in Toronto, the TSX has slipped 14 points while the Venture has surged another 10 points to 837 as it draws closer to key 2016-2017 resistance at 850…technically, the Venture hasn’t shown this kind of momentum since 2016 and it seems increasingly likely that a major breakout through 850 is on the horizon…on the CSE, momentum continues to build in Cannabix Technologies (BLO, CSE) after a new all-time closing high yesterday of $2.18…with such intense interest in the marijuana sector ahead of legalization of recreational pot in Canada by mid-2018, it’s not surprising BLO is drawing increased attention as the leader in the development of a much needed marijuana breathalyzer for law enforcement and the workplace…
6. Many mining companies prefer British Columbia because of its generally abundant water supplies, so it’s ironic that Centerra Gold (CG, TSX) has had to temporarily suspend mill processing operations at Mount Milligan due to insufficient water…processing is expected to resume at partial capacity by the end of January and at full capacity after the spring melt, the company says…Centerra reports that last spring and summer were drier than normal, with the water shortage now exacerbated by cold temperatures that produced a greater-than-expected loss of water volumes in the tailing storage facility due to ice formation…year to date, the Mount Milligan mine has churned out approximately 225,000 ounces of payable Gold and approximately 54 million pounds of payable Copper…
7. Another bullish sign for the Venture entering 2018 is how Crude Oil has been performing…amid robust global demand and rising investor interest, trading in Crude derivatives is booming, with annual Brent and spot WTI volumes hitting a new record this year…meanwhile, there’s no denying China’s continued thirst for Oil as Crude inventories in that country have dropped to their lowest level in 7 years…Oil markets have also been tightened following a year of OPEC and Russia-led production cuts which were started last January and scheduled to cover all of 2018…pipeline outages in Libya and the North Sea have also been supporting Oil prices…
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
December 27, 2017
Daniel’s Den
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