BullMarketRun.com

Check the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,276 and $1,283 so far today after back-to-back volatile sessions…as of 7:00 am Pacific, the yellow metal has added $5 an ounce to $1,281…despite yesterday’s plunge, momentum has been slowly creeping into the Gold market over the last couple of weeks and hedge funds have raised their net long positions, but $1,300 nonetheless represents a significant wall of resistance…Silver is up 15 cents at $17.00…Copper and Nickel have added 4 pennies each to $3.12 and $5.29, respectively…Crude Oil is up 31 cents to $56.73 while the U.S. Dollar Index has fallen slightly to 93.98…

2. The remonetization of Gold has taken a significant step forward as a new fintech start-up now allows people to buy products through a Gold-backed credit card…Glint, a new app that launched today in the UK, offers payment services using Gold…in partnership with MasterCard and Lloyds Bank, Glint users can load credit onto their account and use it to buy a portion of a Gold bar to store their money…users can then send money and Gold to others with the app and use a Glint debit card to make payments in a variety of currencies, and Gold, at interbank exchange rates…physical Gold holdings are allocated to the owner and held in an independent and insured vault in Switzerland…Glint, which is regulated by the UK’s Financial Conduct Authority, plans to expand into Europe and Asia next year…the app currently supports the British pound and Gold, with more currencies to come…

3. The global Platinum market deficit will rise sharply next year thanks to resurgent demand from the jewellery and industrial sectors and declining production, an industry report said today…the shortfall will jump to 275,000 ounces from an expected 15,000 ounces this year, the World Platinum Investment Council (WPIC) said in its latest Platinum Quarterly Report…that would put the industry in deficit for a 6th consecutive year and cut above-ground stocks to 1.605 million ounces by the end of 2018, said the WPIC, which is funded by Platinum mining companies.  “For 5 years these stocks have been feeding deficits…it does appear the Platinum market is much tighter than it’s ever been in the last 5 or 6 years,” said the WPIC…Platinum prices have climbed 5% this year, lagging Palladium, after hitting a more than 7-year low in 2016…Palladium has soared 45% in 2017 and became more expensive than Platinum in September for the first time since 2001…

4. Shares in technology companies are outpacing other sectors this year by the widest margin since the height of the dot-com era, with a handful of key players dictating how markets are performing around the world…just 8 companies – Facebook, Apple, Amazon.com, Netflix, Alphabet, Baidu, Alibaba and Tencent – have increased by $1.4 trillion in market cap in 2017, a sum roughly equivalent to the combined annual GDP of Spain and Portugal…as the tech sector has become bigger and more influential within global stock indexes, its ascent has helped take U.S. and Asian emerging stock markets to record highs – but countries with less tech-heavy markets (Canada, Australia and Europe) haven’t fared as well…

5. According to a Goldman Sachs‘ forecast this morning, U.S. equity markets are in for another strong year in 2018 as long as Congress is able to pass tax reform…the firm predicts the S&P 500 will close next year around 2,850, a healthy 10.4% gain from yesterday’s close, assuming tax reform is passed.  “Our ‘rational exuberance’ rests on a combination of above-trend U.S. and global economic growth, low albeit slowly rising interest rates, and profit growth aided by corporate tax reform likely to be adopted by early next year.”

6. U.S. stocks opened strongly higher this morning as investors cheered robust quarterly results from top companies in corporate America…the Dow jumped more than 100 points at the open and has expanded on those gains through the first 30 minutes of trading…the NASDAQ is up even more sharply in percentage terms as of 7:00 am Pacific…in Toronto, the TSX has climbed 77 points while the Venture has edged 1 point higher to 795 after backing off again yesterday from notable resistance in the very low 800’s…Datametrex AI (DM, TSX-V) has closed an over-subscribed private placement for nearly $6 million and has also completed its purchase of privately-held Nexalogy Environics, a business intelligence and data analysis software provider to government agencies and Fortune 500 corporations…DM backed off to strong new support at 17.5 cents during the first half hour of trading but has rebounded to 20.5 cents as of 7:00 am Pacific…Fiji’s Minister of Mines has approved the grant of the new Navilawa special prospecting licence (SPL 1412) adjoining Lion One Metals‘ (LIO, TSX-V) fully permitted high-grade underground Tuvatu Gold Project…the company, with $25 million cash in the bank, now holds over 200 sq. km of prospective ground in one contiguous exploration license area with a 385 hectare mining lease near its epicentre at Tuvatu…on the CSE, the ever-volatile Cannabix Technologies (BLO, CSE) has built on yesterday’s gains in early trading after the company announced pre-market yesterday that it had increased its previously announced bought deal private placement to just over $4 million…

7. Fintech Select (FTEC, TSX-V) is up modestly in early trading after announcing that it has filed a patent application for its propriety POS (point of sale) cryptocurrency platform…the company believes that it’s POS Cryptocurrency exchange platform carries competitive advantages when compared to Bitcoin ATM’s and regular online exchanges and thus has taken action to protect its proprietary process in the marketplace…unlike other platforms that can only print vouchers or use high fees to transact through ATM’s, the company says its Selectcoin platform interconnects a merchant’s POS system with an exclusive closed loop card and digital wallet in a seamless eco-system…Fintech Select will be updating the market shortly on the official soft launch of the Selectcoin platform and the active locations for the launch phase.  “We are thrilled with the execution of the entire team during this pivotal time for the company and truly believe that the patent filing will create a long-term revenue stream and return value to shareholders while simultaneously highlighting and strengthening our market leading offering,” stated President and CEO Mohammad Abuleil…chart shows excellent support in the low 30’s…

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