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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 $1,261 and $1,272 so far today…as of 7:00 am Pacific, bullion is off $7 an ounce at $1,261 despite a weaker-than-expected U.S. jobs report…support at $1,260…Silver has slipped 18 cents to $16.40…Copper has retreated slightly to $2.98 but the metal is on track for its largest weekly gain since late July…Nickel is a penny higher at $4.75…Zinc has eased off 2 cents to $1.50…Zinc prices hit new highs this week and have risen more than 26% this year as a Chinese crackdown on pollution has curbed output while inventories in LME warehouses have declined to the lowest since 2009…Crude Oil has slipped $1.48 a barrel to $49.42 while the U.S. Dollar Index has rallied another one-third of a point to 94.18…the greenback will record its 4th consecutive week of gains, helped by expectations of a U.S. interest rate rise in December…

2. Germans invested a hefty $7 billion into Gold products in 2016, the World Gold Council said in its October market update, adding that there is more upside for Gold in that country.  “German investors have an acute awareness of the wealth-eroding effects of financial instability. Hyper-inflation in the 1920’s lingers on in the collective memory but, perhaps more importantly, German investors have seen fiat currencies come and go: in the past 100 years, Germany has had 8 different currencies,” WGC noted…now, Germany is a 100 t-plus per year market for bars and coins and a vast Gold-backed ETF market…

3. U.S. non-farm payrolls have come in negative for the first time since September 2010 as Hurricanes Harvey and Irma damaged not only Texas and Florida, but the U.S. jobs picture – temporarily, at least…payrolls fell by 33,000 in September even though the unemployment rate improved, dipping to 4.2%…meanwhile, the closely watched hourly wages figure jumped to a better-than-expected annualized rate of 2.9%…economists surveyed by Reuters expected payroll growth of 90,000 in September, compared to the initially reported 156,000 in August…the unemployment rate was expected to hold steady at 4.4%…the Fed’s next meeting is on October 31 and November 1, but markets don’t expect a rate hike then…they do anticipate a rate increase, however, when the Fed meets in December as the chances of the 3rd 2017 rate increase at that point is pegged at over 96% according to the CME FedWatch tool…

4. The S&P 500 posted its 6th consecutive record close yesterday…the economy keeps growing at a slow but steady pace, corporate earnings remain healthy and investors are betting a tax overhaul will further boost profits….the S&P 500’s current record streak is the longest since the 8 highs ending June 17, 1997, during the dot-com boom…meanwhile, the CBOE Volatility Index, known as Wall Street’s “fear gauge,” fell 4.6% yesterday to 9.19, eclipsing its record closing low of 9.31 set in December 1993…abnormally low fear levels won’t last forever…

5. The Dow is off 14 points as of 7:00 am Pacific while the TSX has pulled back 25 points ahead of a Thanksgiving long weekend in Canada with Canadian markets closed Monday…the Venture, flashing technical signs of a significant October breakout, is off 1 point at 784…Spearmint Resources (SRJ, TSX-V) is the runaway volume leader in early trading, up a penny at 5 cents…the company has acquired fresh claims north of Garibaldi Resources‘ (GGI, TSX-V) Nickel Mountain discovery while, not surprisingly, it has also acquired the “WHY West” Magnesium prospect “directly bordering” West High Yield’s (WHY, TSX-V) properties near Rossland…

6. West High Yield (WHY, TSX-V) is halted again, pending Venture clarification of company affairs, following yesterday’s bizarre session when the stock soared as much as 956% after WHY issued a news release stating that it had signed a “definitive arm’s-length purchase and sale agreement to sell 100% of its right, title and interest in its Record Ridge South, Midnight and O.K. mineral properties to Gryphon Enterprises LLC, a company based in Maryland, United States, for a purchase price of $750 million (U.S.).”  President and CEO Frank Marasco told the Financial Post, “If you calculate the 3 sections of the land, there is about 3,000 years of supply of Magnesium that can be extracted from the property.” He added that Gryphon went through about 5 years of due diligence on the property and the funders went through about a year-and-a-half before pulling the trigger on this deal…still, Marasco may have plenty of explaining yet to do…he and his wife own much of the stock and the company has struggled to raise money the last several years leading up to this suddenly announced $750 million (U.S.) windfall agreement…

7. New Gold (NGD, TSX), on the rebound this year after bottoming at $3.11 at the end of January, has completed its first Gold pour at the Rainy River mine in northern Ontario, and the company’s commissioning plans remain on schedule.  “Our team is proud to have delivered on all of the key project milestones since the beginning of 2017; however, the first Gold pour is a particularly special one for New Gold and its stakeholders,” stated Hannes Portmann, President and CEO…as previously announced, the Rainy River mine began processing ore on schedule September 14…since that date, New Gold has successfully processed approximately 290,000 tonnes of ore as the company ramps up Rainy River to its 21,000-tonne-per-day nameplate capacity…

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