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1. Gold has traded between $1,272 and $1,283 so far today…as of 7:00 am Pacific, the metal is down $3 an ounce at $1,274…China’s net Gold imports via Hong Kong slipped about 8.5% in September from the previous month, falling to 29.80 tonnes from 32.57 tonnes in August…Silver is off 6 cents at $16.86…Copper and Nickel have both retreated modestly at $3.15 and $5.28, respectively…Zinc is up 2 pennies at $1.49 while Cobalt is steady at $27.22…Crude Oil is 7 cents lower at $52.11 while the U.S. Dollar Index has shot up by two-thirds of a point to 94.23, thanks in part to weakness in the euro as the ECB gently steps away from its stimulus program…

2. The ECB’s Governing Council announced today that its bond-buying program will be reduced starting in January…buying under the asset purchase program will continue at the current monthly pace of 60 billion euros until the end of December, the central bank said.  “From January 2018, the net asset purchases are intended to continue at a monthly pace of €30 billion until the end of September 2018, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.”  ECB President Mario Draghi reiterated that interest rates were left unchanged and noted that they are expected to remain the same levels for “an extended period of time” and “well past the horizon of our net asset purchases.”

3. The Crude Oil market this week has been supported by comments from Saudi Arabia’s energy minister reiterating the kingdom’s determination to end a global supply glut that has weighed on prices for more than 3 years…nothing like a pending IPO for the state-owned Oil company to light a fire under the Saudis…meanwhile, Crude for immediate lifting has moved to a premium over later futures prices (backwardation), indicating that demand for Oil is strong in many of the biggest consuming regions, including Europe and Southeast Asia…the latter’s net Crude imports will more than double to 5.5 million bpd by 2040 as the region adds new refining capacity to meet rising demand while regional Oil output falls, according to the International Energy Agency (EIA)…makes you wonder why so many Canadians want to give up this country’s competitive advantage in Oil…

4. Uranium and The Real Russia Scandal:  The U.S. Justice Department announced last night that it had lifted a gag order on a former FBI informant involved in a high-profile Russia bribery case, clearing the individual to speak to Congress about Moscow’s Obama-era Uranium deals in the U.S. market and other schemes…in a statement, the department said it had authorized the informant to speak to the leaders of the Senate Judiciary Committee, House Oversight Committee, and the House Permanent Select Committee on Intelligence, in addition to select staffers…the department said the informant could provide “any information or documents he has concerning alleged corruption or bribery involving transactions in the Uranium market,” including Russian company Rosatom, subsidiary Tenex, Uranium One and the Clinton Foundation…Uranium One refers to the name of a Canadian-based company with mines in the U.S. that in the summer of 2010 was bought by Rosatom, a company backed by the Russian state, which effectively gave Rosatom proprietary access to one-fifth of the U.S. Uranium supply…the State Department, then led by Hillary Clinton, was one of 9 U.S. government agencies that had to approve the 2010 deal…it has been reported that Russian nuclear officials steered tens of millions of dollars to the U.S. that were allegedly designed to benefit the Clinton Foundation…how’s that for collusion with the Russians?…

5. U.S. stocks opened strongly higher this morning, buoyed by favorite earnings reports highlighted by Twitter’s (TWTR, NYSE) numbers that exceeded Wall Street expectations…the Dow is up 123 points as of 7:00 am Pacific…in Toronto, the TSX is 39 points higher while the Venture has added a point to 785…LeoNovus (LTV, TSX-V) is once again one of the trading leaders with a gain of 4.5 cents to 40.5 cents after successfully testing support in the mid-30’s as expected…

6. PyroGenesis Canada (PYR, TSX-V), the world leader in the design, development, manufacture and commercialization of advanced plasma processes, announced this morning that the U.S. Patent and Trademark Office has issued 2 unrelated U.S. patents to the company, the first targeting the environmental industry, and the second targeting the mining and metallurgical industry…this brings the total number of issued and pending patents held by the company to 54…PYR is up a nickel to 72 cents as of 7:00 am Pacific…

7. First Cobalt (FCC, TSX-V) has released high-grade Cobalt and Copper assays in sulphide-style mineralization at the past-producing Drummond mine near Cobalt, Ontario…grab samples from muck piles by the historic Drummond mine returned grades up to 0.65% Cobalt, 1.79% Copper and 4,990 g/t Silver…significantly, the sulphide-style signature, similar to that seen at nearby Bellellen, has not been well documented in the Cobalt Camp and provides a different type of target for future exploration compared to typical vein systems in the region…Dr. Frank Santaguida, FCC Vice President-Exploration, commented:  “The metal associations found at Drummond are interesting and require follow up work. High lead in Archean volcanic rocks is not common and Copper minerals in calcite veins may suggest an association with the Cobalt-bearing calcite veins. Understanding the metal relationships and the structural control of this mineralization style will be key to further exploration work.”

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