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Gold has traded between $1,224 and $1,238 so far today…as of 9:30 am Pacific, bullion is up $13 an ounce at $1,228…Silver has jumped 21 cents to $15.12…Copper is unchanged at $2.18…Crude Oil is flat at $35.69 while the U.S. Dollar Index tried to rally in early trading but is now essentially unchanged at 94.59…

Gold is getting a lift “from significantly higher risk aversion among market participants this morning,” Commerzbank analysts commented…holdings in Silver ETFs continue to be built up, the bank also noted this morning, by 164 tonnes last week and another 52 tonnes yesterday…while March saw 38,000 ounces of (U.S. Mint American Eagle) Gold coins sold in the U.S., which is 18% down on the year-on-year figure, Silver coin sales surged by 17% to 4.1 million ounces…

Global market spillovers from China’s economic shocks will only increase in the coming years as the country’s financial influence grows and the yuan’s use as a funding currency broadens, the International Monetary Fund said yesterday…the IMF noted that markets have become extremely sensitive to the economic signals coming from China and that policymakers there must not send mixed messages.  “As China’s role in the global financial system grows, clear and timely communication of its policy decisions, transparency about its policy goals, and strategies consistent with achieving them will be increasingly important to avoid volatile market reactions with wider reverberations,” the IMF stated in its report, adding that developments in emerging markets now account for one-third to 40% of the variation between stock market returns and exchange rate fluctuations worldwide…

ISIS Issues More Threats

ISIS supporters have released a video calling for new terror attacks in London, Berlin and Rome…the video, called “Fight Them, Allah Will Punish Them By Your Hands”, calls on extremists to “kill (infidels) wherever you find them”…after showing footage of the attacks in Paris and Brussels, as well as 9/11, the narrator called the previous atrocities a “cautionary message” to nations fighting the Islamic State.  “If it was Paris yesterday, and today in Brussels, Allah knows where it will be tomorrow,” a narrator said in English. “Maybe it will be in London or Berlin or Rome.”

We can’t fix a problem if the President of the United States, the leader of the free world, can’t even acknowledge what it is – radical Islamist terrorism…

Regional Fed President Notes Political Uncertainties

Federal Reserve Bank of Chicago President Charles Evans, who will note on monetary policy next year, said the U.K.’s “Brexit” vote and the U.S. presidential elections are fueling uncertainty, complicating decisions for policy makers as well as businesses and investors…speaking in a Bloomberg Television interview today in Hong Kong, Evans cited the U.K. referendum on leaving the European Union and the surge of refugees entering Europe…he added there’s also a “large uncertainty” about November’s U.S. elections.  “It’s hard to know what risks might be hitting us.  We’re in a period where there are more uncertainties than you would normally have.”

Socialists Thrashed Again In Saskatchewan

Brad Wall’s conservative Saskatchewan Party made history in that province last night, becoming the first non-socialist party to win 3 consecutive elections since 1925…Saskatchewan voters, like those elsewhere in western Canada, know from current (Alberta) and past experience (Saskatchewan, Manitoba and B.C.) that Big Government, high taxes and socialism simply don’t work…Wall also gave an indirect message to Prime Minister Justin Trudeau last night when he boldly declared, “You can expect a government that will stand up for Saskatchewan’s interests in every sector of the economy every time it’s challenged…you can expect a government that is proud of Oil and gas in this province…these are our commitments to those in Saskatchewan and those outside Saskatchewan who may want to participate in the Saskatchewan advantage.”

In today’s Morning Musings…

1.  Updates on Gold, Oil, Copper and Uranium…

2.  Pure Gold Mining (PGM, TSX-V) shoots higher following impressive results from Madsen…

3.  Brazil Resources (BRI, TSX-V) highlights its large holdings in the Western Athabasca Basin after identifying a 1.8 km EM conductor…

Plus more… to view the rest of today’s Morning Musings, login with your username and password, or click here to register and gain full access to this and other exclusive BMR content and features…