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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 $1,240 and $1,248 so far today…the Federal Reserve is widely expected to raise short-term interest rates by a quarter percentage point in several hours following its 2-day policy meeting, the 5th such increase since the Fed began raising rates from near zero 2 years ago…keep in mind, the last 2 December (2016 and 2015) rate hikes proved very bullish for the Gold and metals markets…the central bank will release its statement and the forecasts at 11:00 am Pacific, followed by a Ma Yellen news conference beginning 30 minutes later…as of 7:00 am Pacific, the yellow metal is off $1 an ounce at $1,243…Silver has slipped 4 cents to $15.65…Copper and Nickel are up slightly at $3.03 and $5.02, respectively…Crude Oil has added 8 cents to $57.22 while the U.S. Dollar Index is down one-tenth of a point at 92.92…

2. U.S. consumer prices accelerated in November amid a rebound in gasoline prices, but declining health-care and apparel costs curbed underlying inflation pressures…the Labor Department said this morning that its Consumer Price Index increased 0.4% last month, in line with expectations, after edging up 0.1% in October…that raised the year-on-year increase in the CPI back to 2.2% from 2.0% in October…however, the so-called core CPI slowed to just 1.7% in November from 1.8% in October and that has to concern the Fed…

3. Canada’s inability to get new Oil pipelines built – thanks to climate change extremists and spineless, politically correct politicians – is a key reason Heavy Canadian Crude prices are now trading at a 3-year low against benchmark prices…it’s a disgrace…bottlenecks on existing pipelines and rail networks have crimped exports and Western Canadian inventories continue to pile up while a province like Quebec grabs cash from western taxpayers in “equalization” payments while demonizing Alberta’s Oil industry…it’s time for another Western Canadian Revolt…Canadian Crude’s discount to West Texas Intermediate futures has widened more than $10 (U.S.) since August as pipeline companies including Enbridge have rationed space amid high Western Canadian inventories…it’s a perfect storm of too much supply and not enough capacity…Canadian Oil needs to get to market but to “save the planet”, many Canadians would rather not see that happen…

4. WTIC prices are steady after industry data showed a larger-than-expected drawdown in U.S. Crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets…Britain’s biggest pipeline from its North Sea Oil and gas fields is likely to be shut for several weeks for repairs after cracks were found…this morning, its operator said it was still considering repair options and reiterated that any repairs would take several weeks…OPEC expects the world Oil market to be balanced by late 2018 as its deal with other producers to cut output reduces excess Oil in storage, even as the U.S. pumps more Crude…the Energy Information Administration reported yesterday in its monthly short-term energy outlook that U.S. Crude output will rise by 780,000 barrels per day to a record high of 10.02 million bpd in 2018…

5. The Dow is surging again this morning, up 77 points through the first 30 minutes of trading in its 5th straight winning session…in Toronto, the TSX has climbed 43 points while the Venture is up 1 point at 799 after briefly topping 800…it appears the Venture may have already put in its December low which would be a very bullish development going into year-end…Datametrex AI (DM, TSX-V), which has traded a minimum of 1 million shares per day for each of the last 30 sessions (just over 6 million per day average), is up 1.5 cents at 25 cents as of 7:00 am Pacific…DM continues to exhibit an exceptionally bullish technical posture…HIVE Blockchain Technologies (HIVE, TSX-V) announced this morning that it has entered into binding agreements with its strategic partner and major shareholder, Genesis Mining Ltd., to significantly expand the company’s digital currency mining operations in Sweden in 2018, including the addition of a large-scale Bitcoin mining facility…this major expansion will increase HIVE’s energy consumption dedicated to digital currency mining from a targeted 17.4 megawatts in March 2018, escalating to an expected 44.2 MW by September 2018…to finance the expansion, the company is carrying out a $100 million financing at $3.15 per share.  “The addition of Bitcoin mining capability further establishes HIVE as a leader in digital currency mining and diversifies our revenue with a highly liquid currency,” commented Harry Pokrandt, President and CEO of HIVE.  “Our new Bitcoin facility will be among the most energy-efficient and largest Bitcoin mining farms in Europe. This facility will complement our large-scale GPU-based facilities being built in Sweden and currently operating in Iceland, and allow us to diversify from mining GPU-driven consensus algorithms to also include SHA-256 consensus algorithms. Sweden, like Iceland, is an excellent jurisdiction for Hive with its abundant cheap electricity, good governance, and cool climate.”

6. Another company in a hot sector (cannabis) also announced a $100 million financing this morning…Aphria (APH, TSX) is doing a bought deal with a syndicate led by Clarus Securities…investors will purchase 7,272,740 shares of the company at a price of $13.75 per share…Cannabis-related companies in Canada have raised more than $2 billion so far this year as they lock down financing needed to serve the country’s coming recreational pot market, according to New York-based Viridian Capital Advisors…if only politicians in Canada would have the same kind of urgency in getting Oil to market as they do in getting pot to market…

7. Ivanhoe Mines (IVN, TSX) has released positive findings of an independent, pre-feasibility study for the planned redevelopment of the company’s historic, high-grade, Kipushi Zinc-Copper-Silver-Germanium mine in the DRC…the study anticipates annual production of an average of 381,000 tonnes of Zinc concentrate over an 11-year initial mine life at a total cash cost of approximately 48 cents (U.S.) per pound of Zinc…the PFS focuses on the initial mining of Kipushi’s Big Zinc Zone, which has an estimated 10.2 million tonnes of Measured and Indicated Mineral Resources grading a whopping 34.9% Zinc…the planned return to production would establish Kipushi as the world’s highest-grade major Zinc mine…its exceptional Zinc grade is more than twice as high as the Measured and Indicated Mineral Resources of the world’s next-highest-grade Zinc project, according to Wood Mackenzie, a leading, international industry research and consulting group…

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