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1. Gold has traded between $1,323 and $1,336 so far today…as of 7:00 am Pacific, bullion is down $12 an ounce at $1,323 on a strengthening greenback after the Dollar Index cleared resistance just above 90…Silver has fallen 46 cents to $16.66…the stronger dollar has impacted the broader commodity sector today while other factors have also played a role…Iran’s Oil minister said that 2 dozen Oil producers may not need to extend their deal to limit production, but what Iran says means nothing to the Saudis…meanwhile, certain metals have weakened after the U.S. Treasury Department said it would delay imposing sanctions on Russian Aluminum giant Rusal…Copper is off 3 pennies at $3.12 as of 7:00 am Pacific…Nickel has retreated 27 cents to $6.42…Zinc is up a penny at $1.46 while Palladium has tumbled more than $40 an ounce to $974…Cobalt remains unchanged at $41.50…Crude Oil is off 78 cents a barrel to $67.62 while the U.S. Dollar Index has climbed more than one-third of a point to 90.80…geopolitical tensions have eased with news over the weekend that North Korea stated it would suspend nuclear and missile tests before planned summits with South Korea and the United States…meanwhile, there are also signs that U.S.-China relations might be thawing…all of this has played into the Gold market today…

2. The yield on 10-year U.S. Treasuries hit its highest (3.00%) since January 2014 this morning, lifting the Dollar Index to a 7-week peak and putting pressure on Gold…rising yields imply rising inflation, however, and ultimately that’s bullish for the yellow metal which has tremendous support at $1,300…the 10-year Treasury yield hasn’t broken 3% in 5 years…in Canada, signs of inflation are also appearing…the Consumer Price Index was 2.3% higher in March than a year earlier as reported by Stats Canada Friday…that’s the biggest increase in 4 years and faster than the central bank’s target of 2%…it’s a much different story in Japan where the country’s CPI, excluding food and energy, rose just one-half of 1% in the 12 months through March…over the weekend, BOJ Governor Haruhiko Kuroda actually stated on CNBC, “Sometime over the next 5 years we will reach our 2% target” and the central bank will then be able to wind down its massive stimulus program that has cut the benchmark interest rate to negative…

3. Angus Reid has released the 2nd part of an opinion poll last week that found that a solid majority of British Columbia residents, and Canadians, support the Kinder Morgan pipeline expansion…the 2nd part released today showed 60% of those surveyed do not think the protests against the pipeline expansion represent the mainstream view…however, by a ratio of 3-to-1, Canadians surveyed think Kinder Morgan could have done a better job of earning public support…the poll also suggests the debate has captured the attention of Canadians across the country with a majority in every province except Quebec saying they are paying attention to it…the online survey was conducted among a representative randomized sample of 2,125 Canadian adults who are members of the Angus Reid Forum….meanwhile, the pipeline battle is tearing at the seams of the vision of Canada pursued by the Fathers of Confederation, according to Jason Kenney, the leader of Alberta’s United Conservative Party.  “Yes, I do think this is becoming a constitutional crisis,” Kenney told Global’s Eric Sorrenson. “You have a provincial government that is illegally asserting a power to violate federal jurisdiction to attack the country’s economic interest, basically to say that it can, at whim, decide which products are exported from one of Canada’s two major coasts.  This is ridiculous.  This is a complete violation of the concept of Canada from Confederation as an economic union, and if this is allowed to stand, what does it say about this country?”…

4. This will be the busiest week of the earnings season…more than 170 companies are expected to have released their quarterly results by the end of the week, including Alphabet, 3M, Amazon and Chevron…overall, this earnings season has been strong…more than 82% of S&P 500 companies that have reported through this morning have topped earnings estimates, according to FactSet…

5. The Dow is up slightly through the first 30 minutes of trading…in Toronto, the TSX is up 18 points while the Venture is off 3 points to 802 as of 7:00 am Pacific…crypto/blockchain stocks are leading the way in early trading as Bitcoin strengthens to about $9,000 (U.S.)…the Venture has posted 2 straight weekly gains and reversals to the upside have occurred in its EMA(8) and EMA(20) with strong new support at 790…Evrim Resources (EVM, TSX-V) has hit a new high of $1.70 this morning…

6. Marathon Gold (MOZ, TSX) has released new drill results from the Valentine Lake Gold Camp in central Newfoundland, including 8.4 g/t Au over 6 m and 7.1 g/t Au over 4 m…all 14 winter 2018 Sprite zone bog drill holes intersected echelon stacked, southwest-dipping QTP Gold veining in an extensive alteration halo…the newly discovered mineralization beneath the Sprite zone bog has added another 2 km to the strike length of the mineralized corridor at Valentine, and provides an excellent target area for additional resource development…MOZ is unchanged at 92 cents, just above strong support at 90 cents which includes its rising 500-day moving average (SMA)…

7. Banks bow to Paris Climate Accord:  HSBC Holdings plans to mostly stop financing new Coal power plants, Oil sands and arctic drilling…ING and BNP Paribas have made similar pledges in recent months under mounting pressure from groups to align the banks’ actions with the Paris Agreement, a global pact to limit greenhouse gas emissions…HSBC’s Daniel Klier said, “We recognize the need to reduce emissions rapidly to achieve the target set in the 2015 Paris Agreement and our responsibility to support the communities in which we operate.”  HSBC said it would make an exception for Coal-fired power plants in Bangladesh, Indonesia and Vietnam…HSBC CEO John Flint stated, “There’s a very significant number of people in those three countries who have no access to any electricity.  The reasonable position for us is to allow a short window for us to continue to get involved in financing Coal there if we think there is not a reasonable alternative.” Greenpeace said HSBC’s new energy strategy would prevent it from providing project financing for TransCanada’s proposed Keystone XL pipeline to Nebraska…

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