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Check back later this morning for today’s Morning Musings.

1. Gold hit its lowest level ($1,203) since late May overnight before reversing as the dollar surged to a near 14-year peak on expectations for a U.S. rate hike next month and a pro-growth agenda from the incoming Trump administration…bargain hunters stepped in just above $1,200 an ounce and bullion is now off just $5 at $1,211 as of 7:00 am Pacific…Silver dipped into the $16.40’s overnight but is now up 4 cents at $16.68…Zinc prices are close to another new multi-year high, up 2 pennies at $1.16…

2. Holdings of the world’s largest Gold-backed exchange-traded fund, SPDR Gold Shares, fell another 5.6 tonnes yesterday to their lowest since June…holdings are down by nearly 30 tonnes since the U.S. elections…

3. Bonds around the world are headed for their steepest 2-week loss in at least 26 years with inflationary expectations on the rise…

4. Greece has approved a permit application by Vancouver-based Eldorado Gold (ELD, TSX) to build a plant at its Skouries Gold mine in northern Greece, a senior Greek energy ministry source said today…after years of confrontation with the Greek government over environmental concerns, Eldorado halted development at its project in the forested Halkidiki peninsula in January…it laid off most of its 600 workers, saying the government had been delaying necessary permits…

5. Barclays has upgraded Teck Resources (TCK.B, TSX) to “overweight” and raised its target price 60% amid an uptick in commodity prices…Barclays’ analyst Matthew Korn expects Teck to outperform as all mining companies become more attractive investments on new-found strength in commodities…prices of met coal, one of Teck’s biggest resources, have risen about 160% this year…Barclays has nearly doubled its 2017 annual earnings estimate for Teck to $6.67 billion (before interest, tax, depreciation and amortization) on the assumption that Coking Coal prices will settle around $234 a tonne…

6. Hit Technologies (HIT, TSX-V) is breaking out above a downtrend line going back to late 2015, showing fresh technical strength after closing at 6 cents yesterday on volume of more than 2 million shares…HIT is up another half penny at 6.5 cents as of 7:00 am Pacific…the company is making its first large retail foray into the wider accessories market over the Christmas shopping season…updated chart in today’s Morning Musings…

7. Blackbird Energy (BBI, TSX-V) continues its strong run with the stock gapping up this morning on positive news…it’s one of the Venture volume leaders through the first 30 minutes of trading, up 7 cents at 61 cents on nearly 2 million shares…