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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 $1,262 and $1,267 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,264…Silver has jumped 8 cents to $16.20…both Gold and Silver appeared to bottom last week at key technical support levels…Copper has climbed 5 cents to $3.18 while Nickel has surged another 14 cents to $5.45…Crude Oil is up 25 cents at $57.81 while the U.S. Dollar Index has fallen one-tenth of a point to 93.41…Gold ETFs have seen respectable inflows of 229 tonnes so far this year, though Silver inflows are about one-eighth of what they were last year…Goldman Sachs, typically not very accurate on its Gold calls, looks for bullion to slide to around $1,200 an ounce by the middle of 2018 but then to rise to $1,375 by the end of 2020 as demand from emerging market nations grows…it expects Silver to outperform Gold in 2018…Goldman released an updated commodities outlook yesterday and described itself as bullish on commodities as an asset class in 2018…

2. Some interesting statistics just released – Glencore commissioned CRU to measure the impact the global shift away from internal combustion engines to an electric vehicle market would have on metal markets…the London-based research company modeled metal requirements across the supply chain – from generation and grid infrastructure through to storage, charging and vehicles – based on relatively modest penetration of EVs in the total global vehicle market out to 2030…according to the study, as early as 2020 when EVs would still make up only 2% of new vehicle sales, related metal demand already becomes significant, requiring an additional 390,000 tonnes of Copper, 85,000 tonnes of Nickel and 24,000 tonnes of Cobalt…based on an EV market share of around 30% in 2030, forecast metal requirements are roughly 4.1 m tonnes of additional Copper (18% of 2016 supply)…the move away from gasoline and diesel-powered vehicles would need 56% more Nickel production or 1.1 m tonnes compared to 2016 and 314,000 tonnes of Cobalt, a 4-fold increase from 2016 supply…

3. Congress stands on the verge of passing a $1.5 trillion tax cut and the largest structural overhaul of the U.S. tax system since 1986…the Senate passed the tax-overhaul bill early this morning, by a vote of 51-48…a final last-minute glitch due to Senate rules forced Republican leaders to schedule another vote in the House later in the morning, but passage is assured and the measure will head to President Trump for his signature…the Republican plan, much maligned by the Trump-hating mainstream media, offers deep tax cuts for businesses, lower rates for many individuals and a narrower estate tax…corporate shareholders, business owners and most households will win…it will also put pressure on Canada to lower its taxes or risk becoming less competitive vs. its largest trading partner…the American liberal mainstream media have accomplished something astounding: approximately 50% of Americans don’t like the tax bill, according to recent polls, even though, according to the left-leaning Tax Policy Center, some 80% of the country will get a tax cut and only 5% (largely high-income folks in blue states) will see their taxes rise…that’s what a persistent and misleading campaign of misinformation will do…

4. The Wall Street Journal reported this morning that Saudi Arabia is hunting for an energy deal in American shale country as it scopes out its first international Oil-and-gas production investments ahead of its state Oil company’s IPO…any effort to acquire American Oil and gas production assets would mark a watershed moment for Saudi Arabia…it has been the world’s top exporter of Crude Oil for decades, but booming U.S. production has shaken the kingdom, depressing prices and compelling the government to recalibrate strategy on multiple fronts…

5. Hedge funds are eyeing bitcoin like never before, especially with expanded trading opportunities…Horizon Kinetics LLC, a firm that manages over $6 billion in hedge funds, mutual funds and other products and calls itself “value-oriented” and “risk-averse”, has been vocal about its recent purchases of bitcoin and other cryptocurrencies.  “I call it an emerging, historically and sociologically unique asset class that, if accepted, will change society, and before it does that will be enormously valuable,” Murray Stahl, Horizon’s Chairman and CEO, wrote to clients. “Cryptocurrency is merely a reaction to global market policy” that has sent all asset prices climbing…

6. The Dow has added 37 points as of 7:00 am Pacific…in Toronto, the TSX has slipped 6 points while the Venture is off 2 points at 803 where it’s testing new support…Crystal Lake Mining (CLM, TSX-V) is one of the volume leaders in early trading with the company announcing a $700,000 financing at 50 cents to advance its Nickel-Copper-Cobalt-PGE project 35 km from Fort Frances in northwestern Ontario…a 2015 drill hole by CLM, following up on promising historical results, returned 63.75 m grading 1.05% Nickel and 2.2% Copper…a major new drill program starts soon…CLM is up a dime at 62 cents as of 7:00 am Pacific…Wolfden Resources (WLF, TSX-V) touched a new all-time high of 50 cents in trading yesterday with a drill program now under way at Pickett Mountain in northern Maine, believed to be one of the highest-grade undeveloped VMS deposits in North America…WLF is off half a penny at 48.5 cents through the first 30 minutes of trading…

7. The federal government is in the process of licensing 208 new cannabis companies, which would more than triple the number of official producers, according to a new report this morning…meanwhile, a new Health Canada survey shows that Canadians are still hazy on the risks of driving high which further underscores law enforcement’s urgent need for an effective roadside marijuana breathalyzer (Cannabix Technologies, BLO–CSE, is the leader in that drive)…only half of respondents who had consumed cannabis in the last year felt that marijuana use affects driving, according to the Canadian Cannabis Survey released yesterday (19% said cannabis doesn’t affect driving)…of those who had used marijuana in the last 12 months, 39% said they had driven within 2 hours of consuming cannabis at some point in their lives…

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