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Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,285 and $1,293 so far today with markets quieter than usual as a shortened trading week nears a close…the yellow metal is flat at $1,290 as of 7:00 am Pacific…Silver, poised for its first weekly decline in 3, is off 5 cents at $17.02…Copper and Nickel are both up slightly at $3.16 and $5.43, respectively…Crude Oil has surged 72 cents a barrel to $58.74 while the U.S. Dollar Index has retreated one-fifth of a point to 92.97…the greenback has hit a 5-week low against a basket of currencies, still under pressure after the minutes from the latest Federal Reserve policy meeting highlighted concern among some board members over persistently low inflation…

2. Russia is increasing its share of Gold in state reserves to “beef up national security”, central bank First Deputy Governor Sergei Shvetsov said today…the value of Gold in Russia’s international reserves managed by the central bank increased to $73.7 billion as of November 1 from $60.2 billion at the beginning of the year…

3. Oil prices have hit another 2-and-a-half-year high as North American markets tightened on the partial closure of the Keystone pipeline connecting Canadian Oilfields with the United States…the Oil spill that shut part of Keystone is supporting U.S. Crude, flipping prices into backwardation when front-month prices rise above those for future months, indicating an undersupplied market…meanwhile, traders are anticipating positive news out of OPEC next week when the cartel meets November 30…a Bloomberg report this morning said OPEC and Russia have outlined the framework for a deal to extend production cuts beyond Q1 next year…the Saudis are determined to keep pushing Oil prices higher and fighting them is like trying to fight the Fed…technically, WTIC is following a pattern consistent with a move that should take prices into the $70’s at some point in 2018, a bullish underpinning for the Venture…

4. Good sign for Q4 economic numbers – U.S. shoppers had splurged more than $1.52 billion online by Thanksgiving evening, and more bargain hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday…at the start of the holiday season, consumer spending was up 16.8% year-over-year until yesterday afternoon, according to Adobe Analytics, which tracked 80% of online transactions at the top 100 U.S. retailers…surging online sales and a shift away from store shopping have thinned the crowds typically seen at stores on Thanksgiving evening and Black Friday for the past 2 years…U.S. consumers are in strong shape and that should give Q4 economic growth a nice boost…

5. Hopefully it’s not a contrarian sign that Goldman Sachs is calling for continued robust equity markets, saying its “rational exuberance” (as opposed to “irrational”) reflects solid U.S. and global economic growth, low inflation, and slowly rising interest rates…the likelihood of Republicans passing their tax overhaul plan has also factored into Goldman’s forecast…the S&P 500 clinched its 54th closing high earlier this week – the broad index’s most records in a calendar year in more than 2 decades…the NASDAQ has also posted the most record closes in a single year, notching its 68th on Wednesday, while the Dow has hit 60 highs…

6. U.S. equities opened higher this morning following the Thanksgiving break yesterday as investors placed bets on a strong holiday shopping season…the Dow is up 41 points through the first 30 minutes of trading…the NASDAQ and S&P 500 have both hit new record highs…in Toronto, the TSX has added 30 points as of 7:00 am Pacific…Aurora Cannabis (ACB, TSX) has formally launched its hostile all-share takeover for CanniMed Therapeutics (CMED, TSX)…the price being offered by Aurora for each CanniMed share is at a 74.7% premium over the volume-weighted average price for CanniMed shares for the last 20 trading days ended November 14, but CMED is nonetheless down slightly in early trading with Aurora up 30 cents at $7.04…the Venture is 1-point higher at 794…Radient Technologies (RTI, TSX-V), which recently finalized a processing deal with Aurora, continues its ascent, hitting a new all-time high of $1.49…when we will start seeing some hostile takeovers in the exploration sector?…

7. Interesting comments by Rick Rule in an interview with Kitco’s Daniela Cambone at the San Francisco Silver & Gold Summit:  “Look at the fact that for the first time in 20 years we’re coming into an exploration market.  Whether or not you believe the NovaGold story, the fact that the market looked at an advanced exploration play and put in place a billion dollar market cap before you had an assay tells you that the market is short enough high quality exploration projects that for the first time since the early part of the decade of the 90’s, good explorationists attract the market’s attention.”

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