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1. Gold has firmed up again today on weakness in the greenback…bullion has traded between $1,281 and $1,289 so far today and is up $4 an ounce at $1,285 as of 7:00 am Pacific…impressively, bullion has held key support at $1,260 despite declining in 7 out of the past 8 weeks…Silver has slipped 3 pennies to $16.96…Copper is off slightly at $3.07 while Nickel has corrected 21 cents to $5.54…Crude Oil continues its uptrend, trading just below 2-year highs at $56.91, while the U.S. Dollar Index has surrendered one-quarter of a point to 94.62…

2. Lackluster investor interest in North America and declining jewelry sales in India weighed heavily on global Gold demand in Q3 as it fell to its lowest level in 8 years, according to the latest report from the World Gold Council (WGC)…in its Gold Demand Trends report, the WGC said that total Gold demand between July and September dropped to 915 tonnes, a 9% decrease compared to Q3 2016…for the year, total Gold demand is down 12% from 2016…leading the decline in the 3rd quarter was a 28% drop in total investment demand…it’s important to note that investment numbers in the report are somewhat skewed given the fact that extraordinary events occurred during Q3 last year including the Brexit vote that caused Gold prices to spike to nearly $1,400…Gold investment demand continues to grow, albeit at a slower rate, and has been restrained during this 2nd half of 2017 by surging equity markets…

3. Crude Oil prices remain firm (Saudi Arabia-Iran tensions are helping in that regard) despite news yesterday that U.S. production rose 67,000 barrels per day last week to 9.62 million bpd, the highest in decades…Texas issued 997 Oil and gas drilling permits last month, up nearly 17% versus the same month a year ago…in Alberta, Canada’s Oil and gas hub, the process to acquire drill permits has become much more cumbersome, another example of Canada’s decreasing competitiveness as politicians north of the border embrace the new religion of climate change extremism…

4. Palladium’s premium over Platinum is hovering near its highest since 2001…in September, Palladium became more valuable than Platinum for the first time in 16 years and is trading just over $1,000 an ounce this morning vs. the low $930’s for Platinum…the latter is more heavily used in diesel vehicles which have fallen out of favor since 2015’s Volkswagen emissions-rigging scandal…Palladium has benefited from the switch to petrol engines and expectations for growth in hybrid electric vehicles which tend to be gasoline-powered…

5. The Dow has retreated more than 100 points in early trading…the TSX is 56 points lower while the Venture is off 2 points at 793…Tinka Resources (TK, TSX-V) is up another penny at 79 cents in early trading after announcing yesterday that it has more than doubled its Inferred mineral resource at its 100%-owned Ayawilca Zinc Project in Peru…42.7 million tonnes have been outlined, grading 7.3% Zinc equivalent…in addition a separate Inferred resource of 10.5 million tonnes of Tin equivalent grading 0.70% has also been delineated (the Tin zone and Zinc zone resources do not overlap)…drilling continues at the property with 2 rigs…Fintech Select (FTEC, TSX-V), up strongly this week, announced this morning that it will be launching a test pilot project around its physical bitcoin product line to accompany the closed loop Selectcoin card at participating retail locations…the bitcoin boom and cryptocurrency craze continues…the bitcoin price is now above $9,000 CDN…

6. Cameco (CCO, TSX) has strengthened in early trading on news of cost-cutting measures due to continued Uranium price weakness…the company announced that production from the McArthur River mining and Key Lake milling operations in northern Saskatchewan will be temporarily suspended by the end of January, 2018, and that its annual dividend will be reduced to 8 cents per common share next year.  “With the continued state of oversupply in the Uranium market and no expectation of change on the immediate horizon, it does not make economic sense for us to continue producing at McArthur River and Key Lake when we are holding a large inventory, or paying dividends out of proportion with our earnings,” said Tim Gitzel, Cameco’s President and CEO.  “We regret the impact these actions will have on our work force and other stakeholders and are doing what we can to cushion it while ensuring the long-term sustainability of the company. We believe these actions will help shield the company from the nearer-term risks we face and will benefit all our stakeholders for their continued patience and support of our strategy to build long-term value.”

7. More problems between Eldorado Gold (ELD, TSX) and the socialist, anti-mining government of Greece – Eldorado said today that it’s  putting its Skouries development project back on “care and maintenance” as it faces an ongoing stalemate with the government over securing necessary permits…while dialogue between the company’s Greece subsidiary and the Ministry of Energy and Environment continues, Eldorado said it still has not secured an electromechanical installation permit for the Skouries flotation plant, as well as other needed permits…Eldorado said it has also initiated 3 lawsuits in an effort to protect its interests…the company said it will reassess its investment in the Skouries Project upon receipt of the required permits and will also consider whether there is a “supportive” government open to discussions on the use and implementation of the best available technologies…

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