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 $1,280 and $1,290 so far today…as of 7:00 am Pacific, the yellow metal is up $3 an ounce at $1,283…hedge fund manager John Paulson maintained his holdings in SPDR Gold Shares during the 3rd quarter, filings show…meanwhile, Soros Fund Management LLC remained out of Gold for the 4th straight quarter after exiting from its shares of Barrick Gold late last year…Silver is flat at $16.99…Copper is off slightly at $3.04 while Nickel is down 9 cents at $5.20…Crude Oil has retreated to the $55 level while the U.S. Dollar Index has lost one-fifth of a point to 93.66…
2. Silver will be the precious metal to watch next year, according to commodity analysts at TD Securities…in its 2018 Global Outlook, the Canadian bank says its trade recommendation for next year is to go long Silver with a price target at $20 an ounce, which is more than a 17% gain from current prices (moves in quality Silver stocks should be much greater)…the analysts are also bullish on Gold in 2018 but they see more potential with the grey metal due to Silver’s higher volatility. “Underperforming Silver is set to shine as Gold improves amid still low real rates, firm demand, weak supply and higher [volatility],” they said…
3. Oil prices slipped again today on the back of bearish data showing a rise in U.S. Crude supplies and, according to the International Energy Agency (IEA), a weaker global demand outlook…late yesterday, the American Petroleum Institute released data showing a 6.5 million barrel increase in U.S. Crude stockpiles and a buildup of refined products like gasoline for the week ended November 10…data just released by the U.S. government showed a much smaller increase in Crude stockpiles (1.9 million barrels)…also yesterday, the Paris-based IEA cut its global Oil demand forecast for this year and next by 100,000 barrels a day…the IEA now expects demand to grow by 1.5 million barrels a day this year and 1.3 million barrels a day next year…however, the IEA’s findings stand in contrast to that of OPEC which earlier this week raised its Oil demand forecasts for 2017 and 2018, saying the market was becoming increasingly rebalanced and stable…the Saudis are determined to push Oil prices higher and fighting them can be like fighting the Fed…
4. U.S. retail sales unexpectedly rose in October as an increase in purchases of motor vehicles and a range of other goods offset a decline in demand for building materials, suggesting consumer spending remained fairly strong early in the 4th quarter…another great sign for the resurgent U.S. economy…the Commerce Department said retail sales increased 0.2% last month…data for September, meanwhile, was revised to show sales jumping 1.9% rather than the previously reported 1.6% advance…retail sales are up a healthy 4.6% on an annual basis…
5. U.S. stocks opened sharply lower this morning with the Dow off 159 points through the first 30 minutes of trading…further weakness in Oil prices and General Electric shares shook investor sentiment but the Dow has had only 6 losing sessions out of the last 23 through yesterday…in Toronto, the TSX has retreated 72 points while the Venture has dipped 3 points to 792…among junior Gold stocks, Bonterra Resources (BTR, TSX-V) continues to outperform as it’s now trading at levels (high 50’s) not seen since late 2013…Maya Gold & Silver (MYA, TSX-V), a high-grade Silver producer in Morocco, hit a new 3-year high of 43 cents in early trading…the company’s last news release was October 30th when it reported its deepest intersection of native Silver at the Zgounder mine…on the CSE, another big run for Cannabix Technologies (BLO, CSE) to start the trading session (refer to our Morning Alert)…
6. Hive Blockchain Technologies (HIVE, TSX-V) has firmed up this morning after announcing the closing of its recently announced bought deal at $2.80, including the exercise in full of the underwriters’ option to bring gross proceeds to $34.5 million…the private placement will go toward financing the second phase of construction at the company’s digital currency mining data centre in Sweden as per HIVE’s recent agreement with Genesis Mining…HIVE is strategically partnered with Genesis to build the next generation of blockchain infrastructure…
7. Gold Standard Ventures (GRV, TSX) has released results from 8 exploration scout holes completed west-northwest and north of the North Bullion deposit on its 100%-owned/controlled Railroad Project in Nevada’s Carlin trend…interestingly, core hole RR17–06 intersected 41.7 m of 1.91 g/t Au including a higher grade zone of 7.6 m @ 6.3 g/t Au approximately 375 m west-northwest of the closest mineralized drill hole…this identifies a new Gold zone outboard from the new North Bullion maiden resource…assays for 2 other holes are pending…GSV may have bottomed at strong support around $1.60, just above its rising 1,000-day SMA…
The Template For The Next 10% Move In Garibaldi Resources
The Nickel Mountain Magma Highway
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
Guys,
Are you aware that this Friday marks the 23rd anniversary Of Diamond Fields announcement of their discovery at Voisey’s Bay? Wouldn’t it be cool if GGI also made their’s this Friday? Wonder if they know? No need to add this to the questions/comments section. Just wanted you to be aware of the importance of that date and use in one of your articles if you so choose.
Many thanks for all you guys do and again for your veteran’s tribute 🙂
Jon (AFChief)
Comment by AFchief — November 15, 2017 @ 9:44 am
Jon
I see Dr Lightfoot has now been retained by NAN as well, I wonder if all these other companies know what is about to unfold at Nickel Mountain? They want all that knowledge too?
Your thoughts?
Comment by GREGH — November 15, 2017 @ 7:36 pm
I think Lightfoot has been employed by lots of groups over the years, and no one paid attention to him. Most peeps didn’t even know his name till GGI machine came alive and then the name became ‘household’ known.Now it has start power. For years it was Tony Naldrett’s name who sparked interest
Comment by David — November 16, 2017 @ 6:36 am
Insider selling his whole position in BLO , that’s not the worst part….he’s actually shorting it! Omg unreal
Comment by Gregory — November 16, 2017 @ 6:50 am