Check back later this morning for today’s Morning Musings.
1. Gold is coming off its worst weekly performance since March 2008 after tumbling more than $75 an ounce last week or 5.8% in the aftermath of an historic U.S. election that has led to an increase in bond yields across the globe…holdings of Gold by global exchange-traded funds have fallen roughly 16 tonnes for 2 days in a row…bullion has touched a 5.5-month low this morning of $1,212 while the U.S. Dollar Index has climbed to a 10-month high…
2. The “Trump Thump” has whacked the global bond market for more than a $1 trillion loss since last Tuesday…bets on faster U.S. growth and a pick-up in inflation have moved capital from bonds to stocks…the Bank of America/Merrill Lynch U.S Treasury Index suffered a 1.91% decline on a total return basis last week, its biggest weekly drop in more than 7 years…
3. Canopy Growth (CGC, TSX) is up sharply in early trading after reporting Q2 fiscal 2017 net income of $5.4 million on year-over-year revenue growth of 245%…CGC has become Canada’s first marijuana “unicorn” after reaching a billion dollar valuation as part of an industry-wide rally buoyed by last week’s legalization push in 8 U.S. states…
4. Canadian Zeolite (CNZ, TSX-V), which is targeting medical marijuana growers in Canada and the U.S. for its natural Zeolite which is being used in multiple other applications, hit a new high of 93 cents in early trading to begin the new week…
5. Cannabix Technologies (BLO, CSE) is edging closer to another technical breakout…BLO is up 6 cents to 65 cents as of 7:00 am Pacific after releasing images of its Beta 2.0 Cannabix Marijuana Breathalyzer…the company says the enhanced prototype encompasses a robust detection system and components platform that will be used in an eventual finalized product for manufacturing…the Beta 2.0 version has provided excellent sensitivity in lab testing and will be utilized to conduct scientific studies with live marijuana users (smokers and edible consumers) to test the device for its accuracy and sensitivity using a controlled scientific testing protocol…
6. Garibaldi Resources (GGI, TSX-V) has hit a 5-month high of 12.5 cents in the first 30 minutes of trading, confirming a breakout above a long-term downsloping channel going back to late last year…high tenor values released last Thursday are evidence of a fertile magmatic feeder system at Garibaldi’s Ni-Cu-rich E&L deposit in the Heart of Gold Camp, 10 miles southwest of Eskay Creek…it’s the first confirmed magmatic Ni-Cu-PGE system (also with Gold and Cobalt values) in a prolific district that has produced world class discoveries…
7. Pure Gold Mining (PGM, TSX-V) released near-surface high-grade Gold intercepts this morning from its Russett South target at Madsen in the Red Lake Camp…highlights included 76 g/t Au over 2.1 m in hole PG16–233, including 132.0 g/t Au over 1.1 m…while testing and building the continuity of high-grade Gold mineralization at Russett South, the ongoing 77,000 m drill program at Madsen is mostly focused on expanding the high grade Austin and McVeigh Gold resource…
Funny that the prognosticators were saying there would be a ‘huge’ bump up in gold if Trump were elected, and now down.
They want to deficit spend to partially fund a Trillion dollar infrastructure investment, (something the Pubs fought hard against for the last 8 years).
They want a big bump in military spending and a massive tax cut for the well to do too, all without showing any means of paying for any of it. Pundits are expecting more inflation too because of all this—and gold is down?
The world will need its share of lotsa luck in the next 4 years.
Comment by Carl — November 14, 2016 @ 8:15 am
Nice “pop” in GGI share price this morning. Let her rip.
Comment by pole — November 14, 2016 @ 8:22 am
GGI – zero consolation since all other ships are fkn sinking… I am so disenchanted with the so called experts and pundits and seer sayaers… as well as those crooks in New York. the PM price is being managed down.. look at 9am every day for the last 4 days.. same time, and the price drops in multiples of 10 bucks.. have been monitoring this for a year.. 10 bucks for over 90% of the take downs and the take ups..
nothing natural here.. which means noone can predict crap!!
is the reality that the PM bull that started in Jan is done as of right now?? I am beginning to think so..
and how in goods name does a pot stock have a 1 billion dollar valuation with yearly revenues of 30 million… we are managed by the asylum…
Comment by Jeremy — November 14, 2016 @ 8:56 am
The stock 3 D signatures DXD.V that I mentioned a couple of weeks ago at .60 cents is at $1.09 to-day. Biomarkers for many diseases, concentrating on cancer and Alzheimer disease right now. Going to be a good one.
Comment by charleybarley — November 14, 2016 @ 9:35 am