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Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for comments and helpful information.

1. Gold has traded between $1,289 and $1,300 resistance so far today, touching a fresh 6-week high…as of 7:00 am Pacific, bullion is up $6 an ounce at $1,294…Silver is flat at $17.02 after trading higher earlier…Copper and Nickel are both under mild pressure, trading at $3.13 and $5.26, respectively…Crude Oil is off 76 cents at $58.19 while the U.S. Dollar Index has slipped nearly one-fifth of a point to 92.65….tax reform, speeches by Fed officials and economic data will be in the spotlight this week…the second reading on U.S. GDP for the 3rd quarter will be released on Wednesday…economists are expecting a robust pace of 3.2% on an annualized basis…the metric that Fed officials will likely be watching most closely, however, is the core PCE index for October which the central bank uses to track and target inflation…

2. The Senate confirmation hearing that begins tomorrow for Jerome Powell as new Fed Chairman to replace Janet Yellen will likely focus a lot on his views regarding inflation, especially after Yellen recently commented that persistently low inflation rates may not be transitory as she had always maintained…the lack of inflation pressures in the U.S. continues to puzzle Fed officials (“kind of a mystery”, Powell stated in an interview a few months ago) and may impact the number of rate hikes anticipated in 2018…interestingly, for the 2nd straight year, Americans got a break on the cost of their Thanksgiving dinner according to the American Farm Bureau Federation…this year’s feast, including staples such as turkey, rolls, sweet potatoes and more, fell 75 cents to a 5-year low of $49.12…based on an inflation-adjusted basis, that’s down more than $10 from 30 years ago…

3. The buying of physical Gold remained muted across major Asian centers last week as higher prices dented demand, though seasonal dynamics could boost activity in top consumer China next month….Gold was sold at a premium of $5-$9 an ounce over the global benchmark in China last week, down from the $7-$10 the previous week…orders from wholesalers usually start to pick up from December as traders build inventory ahead of the Chinese New Year, a major gift-giving period in that country…meanwhile, an interesting fact – holdings in exchange-traded funds (ETF’s) are near the highest in a year with Gold ETF inflows outpacing price appreciation for the longest period and at the highest velocity since the global financial crisis…in New York, aggregate Gold open interest is headed for a 3rd straight quarterly gain, the longest stretch since 2009…something does appear to be brewing in the Gold market as 2018 draws near…

4. It’s a big week for Crude Oil with an OPEC-led producer meeting set for Thursday…WTIC hit $58 a barrel last week for the first time since mid-2015…it’s now up 8% for the year but down more than 40% over the past 10 years…the big wildcard this week is Russia – a number of major Russian Oil firms have been expressing their displeasure about extending the OPEC cut through 2018, but most analysts expect some form of a deal to emerge…prices might fall temporarily in the immediate aftermath of any agreement as speculative length “sells the news”…in the United States, U.S. energy companies added Oil rigs last week with the monthly rig count increasing for the first time since July…

5. The Dow is up 25 points through the first 30 minutes of trading…retail stocks have kicked off the week on a strong note, pushing the S&P 500 and NASDAQ to new record highs, as investors bet on strong sales during the holiday season following a promising start on Black Friday…according to Morgan Stanley, 3 things have the potential to destroy the 3rd-longest market rally of all time: extreme leverage, exuberant sentiment and excessive policy tightening…in Toronto, the TSX is down 27 points as of 7:00 am Pacific while the Venture has gained 2 points to 796…Radient Technologies (RTI, TSX-V) hit a new high of $1.75 in early trading as cannabis plays remain hot…

6. Datametrex AI (DM, TSX-V) has announced this morning that the company’s wholly-owned subsidiary, Nexalogy Environics, has entered into a license and development agreement with Revive Therapeutics (RVV, TSX-V) to develop the Artificial Intelligence component in Revive’s proprietary patient-focused program enabled by Blockchain technology dedicated to the medical cannabis industry.  “We are excited to work with Revive to develop their proprietary patient-focused program for their commercialization efforts in the medical cannabis sector. We believe there is a massive opportunity in developing unique technology solutions for all constituents in the medical cannabis sector and their proposed medical cannabis patient-focused platform that includes an AI component is one example of the many sector opportunities Nexalogy can target,” said Andrew Ryu, Chairman and CEO of Datametrex…

7. Millennial Lithium (ML, TSX-V) is up sharply after releasing a maiden Lithium and Potassium resource for its Pastos Grandes brine project in Salta, Argentina, where multiple companies have positioned themselves…the NI-43–101 resource includes 2,131,000 tonnes of Lithium carbonate equivalent (LCE) and 8,141,000 tonnes of Potash equivalent (KCI) in the Measured and Indicated categories, with an additional 878,000 tonnes of LCE and 3,263,000 tonnes KCl in the Inferred category…President and CEO Farhad Abasov commented, “We are very excited to see a robust 43–101 resource estimate from our hydrogeological consultants. The company has now a strong defined resource estimate in place that will allow us to proceed with our planned Preliminary Economic Assessment. With the new REMSA mining concessions and recent strategic funding, we will confidently continue to advance Pastos Grandes to the next level.”

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