BullMarketRun.com

1. Gold has traded between $1,339 and $1,345 so far today…as of 7:00 am Pacific, bullion is down $3 an ounce at $1,342…holdings of Gold by global exchange-traded funds have increased for 12 straight sessions…ETFs added 112,781 troy ounces to their holdings yesterday, taking total accumulation to 74.7 million ounces…Commerzbank notes that holdings have jumped by 45 tonnes since the start of the month…Silver is off 16 cents at $17.16…Copper is flat at $3.13, Nickel has slipped 18 cents to $6.63 (new support around $6.50) while Zinc is up a penny at $1.46…Cobalt remains unchanged at $41.50 while the U.S. Dollar Index is relatively flat at 89.95…Crude Oil has retreated 41 cents to $67.42, cooling off slightly after President Trump took a swat at OPEC in a morning tweet for “artificially high” prices that “will not be accepted”…Trump understands markets and the reason for his tweet this morning is likely related to the link between Oil prices, inflation and interest rates…it wouldn’t help the economy if interest rates increased more than expected this year, and of course Republicans are in a fierce battle to maintain control of both the House and Senate in November’s mid-terms…meanwhile, the Democratic Party, blaming everyone but a horrible candidate (Hillary) for its defeat in the 2016 elections, has filed a multi-million dollar lawsuit in Manhattan federal court this morning against President Trump’s campaign, the Russian government and the Wikileaks group, claiming a broad conspiracy to help Trump win the White House…great fodder for the Clinton News Network…ironically, it was Hillary who paid for a fake Russian dossier on President Trump that was ultimately used by the FBI to wrongfully obtain FISA warrants…

2. On restricting the flow of beer (and bitumen):  Yesterday’s bizarre ruling by Canada’s Supreme Court in support of provincial regulations limiting the amount of booze crossing borders has broader implications for inter-provincial commerce…the Supreme Court’s decision means Canadians can’t buy their favorite beverages in any province they please and bring it or ship it home without potentially facing fines (no such thing as legal protection of internal free trade in Canada)…the so-called “free the beer” case stems from an incident in late 2012 when Gerard Comeau was stopped at the New Brunswick-Quebec border by RCMP and was fined for having 14 cases of beer and 3 bottles of liquor (he was trying to save money)…Comeau’s purchases were confiscated by the RCMP and he was given a ticket for $292.50 for violating N.B.’s Liquor Control Act, which limits booze purchases (even with a bordering Canadian province) to no more than 12 pints of beer or one bottle of liquor…some lawyers are saying that the 46-page decision bolsters Alberta’s Bill 12 that could stop the flow of Alberta energy resources into B.C. as a way of pressuring the west coast as it continues to attempt to stall and block the already approved $7.4 billion twinning of the Kinder Morgan pipeline…

3. Another potential blow for the Canadian economy:  Canadian Pacific Railway has started shutting down its domestic rail network, telling shippers it will not handle any Canadian goods as of early tomorrow morning, ahead of a possible weekend strike by two of its unions…the move precedes a possible Friday night walkout by the Teamsters Canada Rail Conference that could halt much of the country’s rail freight…a strike by the International Brotherhood of Electrical Workers risks shutting down parts of commuter railways serving Vancouver, Toronto and Montreal…CP and both unions have been in talks since the fall, but both unions said they are set to strike at midnight tonight if talks fail to produce a collective agreement they believe members will support….CP head Keith Creel said this week that he’s seeking a “fair” deal, but was willing to endure “short-term pain” to reach labor contracts that will fend off “long-term damage”…

4. Cryptocurrency/blockchain stocks are showing some strength today as Bitcoin jumped again, bringing its post-Tax Day gains to more than 8%…the cryptocurrency spiked about $300 to a high of $8,555 (U.S.), according to CoinDesk’s Bitcoin price index…that marked an 8.5% rise from a low of $7,384 hit Tuesday, which was the original deadline for Americans to file taxes this year (the IRS gave taxpayers another day to submit their returns after the agency’s web page for making the payments crashed Tuesday)…

5. The Dow is down 29 points through the first 30 minutes of trading…Apple shares fell more than 3% after Morgan Stanley said the company’s iPhone sales for the June quarter will disappoint Wall Street…about 16% of the S&P 500 has released its quarterly results with 81.5% of those companies posting better-than-expected earnings, according to FactSet…next week will be the busiest week of the earnings season as more than a third of the S&P 500 will report…in Toronto, the TSX is up 18 points while the Venture has added 2 points to 804 as of 7:00 am Pacific…the Venture is set for its 2nd straight weekly gain…in a positive sign for the crypto/blockchain space, Datametrex (DM, TSX-V) is pushing above a downtrend line in place since late last year on the daily chart…it’s up 2 pennies at 15 cents on strong volume in early trading…

6. A.I.S. Resources (AIS, TSX-V) has mobilized for drilling at its Chiron Project in Salta, Argentina…up to 8 diamond drill holes totaling 2,300 m are expected to be completed across all 4 tenements at Chiron in the Pocitos Salar…Chiron appears to be the preferred area in the salar for brine saturated sequences, based on geophysics data interpretation…significantly, as part of its program at Chiron, AIS will be utilizing a new geophysics technique for Lithium exploration which has has been tested successfully in the Oil industry…the company will be using magnetic resonance of hydrogen to determine porosity and permeability to calculate the reservoir and specific brine yield values…Chief Operating Officer Phil Thomas, an expert in Lithium brine production, says this is the first time this technique has been used commercially in brines with high salt content…it will save nearly 4 months of brine yield testing using traditional methods…

7. A rise in photovoltaic demand should improve Silver’s supply/demand fundamental picture in the coming years, according to a just-released report from BMO Capital Markets…Silver has been a frustrating commodity for investors over the past 18 months, but BMO sees the Gold-Silver ratio eventually falling to 60 which is bullish for the metal.  “In our view, one of the ongoing challenges for Silver is the longer-term trend of industrial demand decline, which is in marked contrast to other major metals,” BMO stated. “However, as the demand void from photography is replaced by a surge in photovoltaics over the coming years, we see a brighter future for Silver fundamentals.”

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