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1. Spot Gold has traded between $1,677 and $1,717 so far today…as of 7:00 am Pacific the yellow metal is near its high of the day, up $22 an ounce at $1,710…investment demand continues to keep Gold in a strong uptrend…holdings in the world’s largest Gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.4% yesterday to 1,033.39 tonnes…Silver has rebounded 16 cents to $15.01…base metals are mixed with Copper, Nickel and Zinc trading at $2.29, $5.40 and 86 cents, respectively…June WTI futures have gained $3.55 a barrel to $15.12…Crude seemed to get a jolt after President Trump tweeted he had “instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea”…the U.S. Dollar Index is off slightly at 100.16…a new stimulus bill cleared the U.S. Senate and European leaders weighed an emergency loan package to avoid mass layoffs, the latest efforts to prop up economies flattened by measures to contain the Wuhan COVID-19 virus..confirmed cases rose past 825,000 in the U.S. and deaths from the respiratory disease caused by the virus exceeded 45,000, according to data from Johns Hopkins University…globally, the virus has infected more than 2.58 million people and claimed more than 178,000 lives, according to Johns Hopkins data that no doubt understates the extent of the contagion (China, of course, has produced fake numbers while under-reporting has occurred in multiple other jurisdictions)…Toronto home sales and listings plunged in the first part of April as the pandemic curbed demand in Canada’s largest city…Greater Toronto saw 1,654 home sales in the first 17 days of April, a 69% drop from the same period a year ago…few owners were trying to sell…new listings fell 64% to 3,843, the Toronto Regional Real Estate Board said in a statement…the figures are for the city of Toronto and its suburbs…average prices were 1.5% lower than a year ago, suggesting the market remained tight enough to provide support for pricing levels seen in 2019, TRREB said…the average selling price for all homes was $819,665…detached homes fell 4.6%, dropping just below $1 million..business groups in British Columbia released a survey yesterday warning that 4 in 10 companies that have been forced (by government) to shut down due to the pandemic believe they will not be able to reopen – those are numbers government officials and their health experts seem to be ignoring…

2. Bank of America commodity analysts just keep getting more bullish on Gold as the weeks go by…the bank said in a report last week that Gold’s technical momentum could drive prices to an all-time high this year…in a new report published yesterday, analysts have officially increased their bullish outlook, saying that Gold prices could hit $3,000 within 18 months, a 50% increase from its previous forecast…along with increasing its 18-month target, in line with our own forecast that emphasized record government budget deficits as a key driver, the bank said that it sees Gold prices averaging $2,063 an ounce in 2021…“As economic output contracts sharply, fiscal outlays surge, and central bank balance sheets double, fiat currencies could come under pressure. And investors will aim for Gold,” BOA analysts said…although a strong U.S. dollar and weak physical jewelry demand in Asia could be headwinds for the Gold market, BOA says the Federal Reserve has provided enough momentum to propel investment demand and prices higher…economists at Bank of America have warned that the Fed’s balance sheet as a percentage of GDP could rise 20% to 40% this year…according to reports last week, the Federal Reserve’s balance sheet hit a record high of $6.42 trillion, up more than 50% from levels reported during the first week of March…“Beyond traditional Gold supply and demand fundamentals, financial repression is back on an extraordinary scale. Rates in the U.S. and most G-10 economies will likely be at or below zero for a very long period of time as central banks attempt to push inflation back above their targets,” the analysts said…

3. Kirkland Lake Gold (KL, TSX, NYSE), the Apple of Gold stocks, has reported impressive new drill results from 19 holes (9,522 m) of underground exploration drilling as well as 15 holes (29,085 m) of previously drilled (not reported) and re-interpreted holes from the Macassa mine…drilling through the east portion of the Main Break at Macassa has intersected high-grade mineralization in close proximity to the #4 Shaft (currently under development) and a planned exploration drift off the 5700 Level (50 m east of previous drilling and 300 m below deepest level at the Kirkland Minerals Property, wholly owned by KL)…key intercept was 141 g/t Au over a 2.4-m core length…meanwhile, a review of new and previously drilled but unreported holes along the Main Break at Kirkland Minerals has identified a 700 x 300 m corridor of high-grade mineralization open along strike and to depth…in addition, drilling on SME East has intersected high-grade mineralization up to 75 m outside of the current resource, highlighting the potential for continued growth at SMC (43.1 g/t over 2.3 m; 31 g/t over 2.3 m; 16.4 g/t over 2.1 m; 19.3 g/t over 4.2 m)…Tony Makuch, President and CEO, commented: “We have a truly unique and very exciting opportunity at Macassa to add substantial new mineral resources and, ultimately, mineral reserves through the continued growth of the SMC, the identification of high-grade mineralization along the largely unexplored Amalgamated Break, and also by drilling along the Main Break, which accounts for most of the 25 million ounces of historic production in the Kirkland Lake camp. While the resurgence of mining in Kirkland Lake over the last 10 to 15 years has been driven by the discovery and growth of the SMC, we have always recognized that the Main Break remains a highly-prospective target for additional exploration success and Mineral Resource growth. The fact that the new corridor of high-grade mineralization along the Main Break is located close to planned infrastructure adds significantly to the value creating potential of today’s results”…

4. Time for Canada to prepare to open its economy ASAP: Epidemiological evidence shows that by the end of the month, Canada will be through the worst of the pandemic…the most reliable modelling suggests that, at that point, Canada will have in the order of 50,000 to 75,000 confirmed cases, depending on testing rates…approximately 3,000 people will have lost their lives (far fewer than models were forecasting), about half of those in long-term homes…after this, some degree of spread will continue – a 2nd wave is possible later in the year – until herd immunity is reached or a vaccine comes to market…overall, though, Canada will be in a much better place by May and that’s why it’s critical to prepare now to get the economy up and running again..the health affects of massive unemployment and a large number of potential bankruptcies cannot be overlooked…British Columbia is now past the peak of daily new infections – there are only 109 COVID-19 patients in hospital and 51 in intensive care in the entire province…there are also an unusual number of hospital beds open due to cancellation of elective surgeries…Alberta, with far fewer infections than first predicted, is also approaching its peak, and is sending personal protective equipment and ventilators to neighbouring provinces…Ontario and Quebec, the worst-hit provinces, should reach their peaks within days…and this follows recent trends in countries such as Italy, Spain, Germany, Switzerland and Austria, where cases and deaths from COVID-19 have reached their peaks and are slowing…Ontario currently has about 200 COVID-19 patients on ventilators – roughly 80% of the province’s 2,811 ventilator-equipped critical-care beds are unoccupied and ready for use by new patients…

5. Sweden’s success in tackling Wuhan COVID-19 with no lockdown: Its neighbors closed borders, schools, bars and businesses as the pandemic swept through Europe, but Sweden went against the grain by keeping public life as unrestricted as possible…the strategy – aimed at allowing some exposure to the virus in order to build immunity among the general population while protecting high-risk groups like the elderly – has been controversial…however, the country’s chief epidemiologist said the strategy appears to be working and that “herd immunity” could be reached in the capital Stockholm in a matter of weeks…“In major parts of Sweden, around Stockholm, we have reached a plateau (in new cases) and we’re already seeing the effect of herd immunity and in a few weeks’ time we’ll see even more of the effects of that. And in the rest of the country, the situation is stable,” Dr. Anders Tegnell, chief epidemiologist at Sweden’s Public Health Agency, told CNBC yesterday…herd immunity among a population, usually achieved through vaccination, is reached when around 60% of citizens are deemed immune…without a vaccine for the coronavirus, however, scientists are looking at whether exposure to and recovery from COVID-19 leads to long-term immunity…reinfections of coronavirus have been reported…Tegnell said sampling and modeling data indicated that 20% of Stockholm’s population is already immune to the virus, and that “in a few weeks’ time we might reach herd immunity and we believe that is why we’re seeing a slow decline in cases, in spite of sampling (testing for the coronavirus) more and more. Unfortunately the mortality rate is high due to the introduction (of the virus) in elderly care homes and we are investigating the cause of that,” he said…the major part of Sweden’s 15,322 confirmed cases are in Stockholm and its surrounding areas, with very small incidences of the virus in the rest of Sweden – a country of around 10 million that has a low population density outside its urban hubs…the number of cases in Sweden is almost double that in neighboring Denmark (it has 8,108 cases and has reported 370 deaths) and Finland (with just over 4,000 cases and 141 deaths) that imposed strict lockdown measures…since their populations are each about 5 million – half of Sweden’s – the rates are about the same, although the comparison could be skewed by testing numbers in each country…

7. GoGold Resources (GGD, TSX) has drilled 11.2 m grading 625 g/t Silver equivalent (358 g/t Ag and 3.56 g/t Au) at its Los Ricos Project, further expanding the scale of the mineralized system…hole LRGG-20–136 was drilled on section 400N in the Main area of the project and intersected the Los Ricos quartz vein from 162.6 to 173.8 m…“As additional assays come in from our exploration program at Los Ricos South, we continue to be pleased with the results,” stated President and CEO Brad Langille…“Hole 132 includes one of our widest intercepts, at close to 50 m, while also showing a very high-grade core of 3 m of 1,270 g/t Silver equivalent. We also have strong results near surface from hole 135, and good results from others including 133 and 137 which we believe will help to increase the number of Silver equivalent ounces in our future resource”…hole LRGG-20–132 was drilled on section 625N in the Main area and intersected 49.4 m, from 321.9 to 371.2 m, of 111 g/t Silver equivalent (80.3 g/t Ag and 0.41 g/t Au)…the intersection featured 3 m of 1,271 g/t Silver equivalent…hole LRGG-20–135 was drilled on section 500N in the Main area of the project and intersected 22.6 m at surface averaging 212 g/t silver equivalent, made up of 133 g/t Ag and 1.06 g/t Au…the intersection included 11.3 m of 297 g/t Silver equivalent…GGD is off 2 pennies at 67 cents as of 7:00 am Pacific…the stock should continue to show strong support at its rising EMA(8), currently 69 cents…

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