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1. Gold has traded between $1,557 and $1,546 so far today…this is a special early edition of 7:00 @ 7:00 due to travel commitments…as of 2:00 am Pacific, the yellow metal is down $14 an ounce at $1,548…Gold has very strong support in a band between $1,550 and $1,520, meaning downside risk is limited at current levels…safe haven-seeking investors around the world piled into Gold-backed ETFs in 2019, making it the best year on record for Gold holdings…assets under management in Gold bullion ETFs expanded 37% from the previous year, adding $19.2 billion, or 400 tonnes, according to the World Gold Council (WGC)…during the 4th quarter, total holdings hit a jaw-dropping 2,900 tonnes, the equivalent of 102 million ounces, which is the most on record…over the past 2 decades Gold has helped investors limit market volatility and portfolio losses…between 2000 and 2019, the precious metal’s average annual price was down in only 4 years…put another way, Gold was up on average in 4 out of every 5 years – a remarkable track record…Silver has slipped 17 cents to $17.90 but its uptrend remains intact…having broken above $2,000 an ounce last week Palladium in now forecast by Citi analysts to hit $2,500 by the middle of this year…base metals are relatively unchanged with Copper, Nickel and Zinc at $2.79, $6.40 and $1.07, respectively…Cobalt is steady at $14.97…Crude Oil has added 19 cents to $59.23 after slumping $4 a barrel last week while the U.S. Dollar Index is up more than one-tenth of a point at 97.51…Treasury Secretary Steven Mnuchin said yesterday that Boeing’s 737 Max crisis could curb U.S. economic growth in 2020 by half a point, though he expects the economy will still grow by about 2.5% this year…“There’s no question that the Boeing situation is going to slow down the GDP numbers,” Mnuchin said in an interview on Fox News’ Sunday Morning Futures… “Boeing is one of the largest exporters, and with the 737 Max, I think that could impact GDP as much as 50 basis points this year”… a U.S.-China Phase 1 trade deal is due to be signed at the White House on Wednesday…it will leave in place tariffs on about $370 billion worth of Chinese imports per year, more leverage for Trump to ink a Phase 2 deal potentially later this year…

2. Just hours after angrily calling the allegation that an Iranian surface-to-air-missile took down Ukraine International Airlines Flight PS752 a “big lie” and “psychological warfare”, Iran’s rogue regime has had to confess that the Revolutionary Guard Corps it has lately been lionizing in mass rallies itself fired the fatal missiles…all 176 people aboard, including 57 Canadians, were killed…one can only hope that regime change can come through a revolution by the long-suffering people of Iran…one of the hallmarks of the Islamic Republic regime is its tragic indifference to life, on display again in multiple ways over the past week…this is the same regime that, during the Iran-Iraq War, sent human waves of school-age boys to clear landmines with their own bodies in advance of regular Iranian troops…the youngsters were given metal keys to hang around their necks and told they would open the doors to paradise…sometimes they were roped together to prevent them escaping…their lives were wasted by the tens of thousands in futile offensives like the 1982 Operation Ramadan…this is one of the most evil regimes that has ruled any nation in the history of the planet, and President Trump did the world a favor when he took out their terrorist leader Soleimani who had the blood of many on his hands, including Iranians…

3. There’s no negotiating with the fossil fuel haters – they are in a mixed up world of their own...hundreds of people marched in Vancouver Saturday from B.C. Supreme Court to Victory Square  to voice their support for opponents of the Coastal GasLink natural gas pipeline…“It’s our territory.  It’s not Canadian land.  It’s not the Queen’s.  It’s not the RCMP’s.  It’s Wet’suwet’en land. It’s our land,” said one protestor, Jerome Pete, who grew up on the traditional territory where Coastal GasLink plans to build its pipeline…“I’m here as an indigenous youth standing with Wet’suwet’en Nation in their resistance to Coastal Gaslink pipeline and colonial forces that seek to remove indigenous people from our lands and our futures,” said another protestor, Ta’Kaiya Blaney, as she addressed the crowd at Victory Square…Coastal GasLink may not have the support of hereditary chiefs but the fact is they’ll likely never get it and they simply don’t need it – they already have agreements with 20 elected First Nation councils along the pipeline’s 670-km route…Canada will stop becoming a country as we know it, and First Nations will never be lifted out of poverty, if we can’t move projects such as this forward swiftly and decisively…

4. This is an ideal time to be invested, on a selective basis, in the resource sector…precious metals and commodities in general are doing well…the Fed is highly accommodative, prepared to accept a sustained uptick in inflation (if it happens) without increasing interest rates which remain low…the U.S. economy, in the midst of its longest expansion in history, is at the perfect temperature, neither too hot nor too cold, and Wall Street continues to bet on another Trump victory in November’s U.S. elections…meanwhile, the greenback is constrained within a down channel that formed in the fall of last year…this is very positive for Gold, the broader commodities space and the Venture…since touching 99.3 in the early fall in an apparent double top, the Dollar Index has been trading within what is now a well-defined down channel with strong resistance from 97.5 to 98 and solid support between 95.5 and 96…we expect the Dollar Index to continue to trade in this range for the foreseeable future (risks are to the downside, not the upside)…in addition, last week the Dollar Index experienced a “death cross”, a bearish signal that takes place when the 50-day SMA crosses below the 200-day…we haven’t seen this from the greenback since May 2017…bodes well for the Venture which performs best when the dollar is flat or weak…

5. Canada Cobalt (CCW, TSX-V) has drilled an incredible 70 kilograms per tonne Silver (70,380 g/t or 2,053 oz/ton) over 0.30 m within a broader 4-m zone (core length) averaging 7,259 g/t or 212 oz/ton Silver in the 2nd wedge hole at its Castle East discovery in Northern Ontario’s Gowganda mining camp…this intercept is 8 m west of the first hole intercept (50,583 g/t over 0.60 m within 1.5 m grading 20,751 g/t with assays pending for the full 4.65-m core interval) and 17 m west of the original discovery hole intercept in CA-11–08 that returned 6,476 g/t over 3.1 m of core length…drilling continues from surface and assays are still pending from 100 of 111 samples from wedge holes 1 through 4, so the market has plenty to speculate on in the days ahead…vein widths are consistent with past producing mines throughout the Northern Ontario Silver-Cobalt District which once accounted for about 25% of the world’s Silver supply at peak production in the early 1900’s…only the low-hanging fruit was picked along a 160-km-long trend, so multiple new discoveries are possible using modern exploration techniques such as geophysics and CCW’s custom-built downhole camera…what’s particularly significant about CCW’s find is that it occurs immediately adjacent to 3 high-grade past producers that combined for approximately 70 million ounces…it’s quite possible the motherlode could be at depth to the east of those mines…CCW closed at 70 cents Friday, confirming a breakout through Fib. resistance at 65 cents…the company also announced Friday that it has closed its deal, subject to Exchange approval, to acquire the only facility in the region (PolyMet Labs) that combines bullion pouring, bulk sampling, commercial assaying and e-waste processing…this gives CCW multiple revenue streams for 2020 in addition to a planned tailings operation…the Castle Property occupies a rich slice of the Abitibi Greenstone Belt 45 miles southwest of the Macassa Mine Complex, 20 miles south of the Young-Davidson mine and 15 miles east of Pan American Silver’s (PAAS, TSX, NASDAQ) multi-million ounce Juby Gold deposit…

6. The Dow topped 29,000 for the first time Friday but stocks reversed from all-time highs on profit-taking…investors digested slightly weaker-than-expected jobs data to end a volatile week full of geopolitical concerns…for the first full trading week of January, the Dow and TSX both jumped about 200 points while the Venture cooled off slightly by shedding 5 points to 582…a strong new Venture support band stretches from 580 to 560…not surprisingly, the Venture unwound temporarily overbought technical conditions last week after climbing as high as 591…new support appears to have formed at the top of a band between 580 (the 200-day SMA is 578) and 560…with a 5-point loss for the week, the Venture’s 7-week winning streak was snapped but chances are we’ll see a quick resumption of the uptrend…on Friday the Venture bounced nicely off its rising 10-day SMA, currently 579, and rose nearly 5 points to close at 582…the Index should get a boost this week ahead of resource conferences in Vancouver from next Sunday through January 23 (Vancouver Resource Investment Conference plus Roundup)…watch for increased news flow from companies this week ahead of those events…the VRIC, one of the largest of its kind, will be celebrating its 25th anniversary…this milestone year for VRIC will see the event host over 60 keynote speakers, 350 exhibiting companies and 9,000 investors, bringing together a host of experts from the mineral exploration, metals, Oil and gas, and renewable energy sectors…

7.  Kirkland Lake Gold (KL, TSX, NYSE) jumped $2 a share Friday after reporting record production for the 4th quarter and full year 2019…production in Q4 2019 totalled 279,742 ounces, an increase of 21% from 231,217 ounces for the same period in 2018, with the increase driven by record quarterly production at the Fosterville mine…for FY 2019, consolidated production totalled 974,615 ounces, 35% higher than 723,701 for FY 2018…FY 2019 production at Fosterville of 619,366 ounces beat the mine’s guidance of 570,000 to 610,000 ounces…production at Macassa in 2019 totalled 241,297 ounces, in line with guidance of 240,000 to 250,000 ounces…the company’s cash position increased $90 million (U.S.) or 15% during Q4 2019, with total cash and equivalents at December 31, 2019, totalling $705 million (U.S.)…during Q4 2019, $30 million was used to repurchase 727,200 common shares through the company’s normal course issuer bid (NCIB), with an additional $25 million (U.S.) used for a strategic investment (Wallbridge Mining)…for FY 2019, cash and equivalents more than doubled…President and CEO Tony Makuch stated, “Looking at exploration, recently released drill results at Fosterville and Macassa are very encouraging and support our view that these mines are not only among the world’s most profitable operations, they also represent two of the most exciting exploration projects in the Gold industry today.  Also contributing to our organic growth potential is our work in the Northern Territory of Australia, where advanced exploration work is progressing with a goal of resuming commercial operations as early as next month when we release our updated mineral reserve and mineral resource estimates.  Providing additional upside for the future is our recent agreement to acquire Detour Gold, where we see opportunities for substantial value creation through investment in Detour Lake mine’s considerable growth, expansion and exploration potential”…

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