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1. Gold has traded between $1,218 and $1,224 so far today…as of 7:00 am Pacific, bullion is flat at $1,221…Silver is off a penny at $14.38…Copper is up 2 pennies at $2.83…Nickel is 4 cents lower at $5.09 while Zinc is unchanged at $1.21…Cobalt is also steady at $24.95…Crude Oil has slipped 97 cents a barrel to $55.49 while the U.S. Dollar Index has retreated one-tenth of a point to 96.37…there will be fresh data on housing, durable goods and consumer sentiment during this shortened Thanksgiving trading week in the United States…Goldman Sachs now predicts 2.5% and 2.2% U.S. growth in the first 2 quarters of 2019, respectively, but then just 1.8% and 1.6% real GDP growth in the final 2 quarters of the year…“We expect tighter financial conditions and a fading fiscal stimulus to be the key drivers of the deceleration,” wrote the bank’s chief economist, Jan Hatzius…but Goldman believes the U.S. will skirt a recession next year…Bitcoin has tumbled to a new 13-month low with the biggest cryptocurrency now slightly below $5,100…Bitcoin, and other lesser coins including Ethereum and XRP, endured a sell-off last week, with some blaming fears that a “hard fork” in Bitcoin cash, where the smaller coin that split into 2 separate currencies, could destabilize others…

2. Differences between the world’s 2 biggest economies were on full display at the Asia-Pacific Economic Cooperation summit over the weekend, resulting in the group’s failure to agree on a joint communique for the first time in its history…deep divisions between the United States and China over trade and investment stymied cooperation…meanwhile, competition between the United States and China over the Pacific was also thrown into focus with the United States and its Western allies launching a coordinated response to China’s Belt and Road Program…the outcome of the APEC meeting would normally be viewed as a bearish indicator for Copper, given escalating trade tensions are likely to have a negative impact over the medium to longer term for the industrial metal…however, in recent weeks there are signs that the Copper market is starting to shrug off political concerns and focus more on supply and demand fundamentals…

3. Why Silver continues to languish:  Following a drop of 1.5% in 2017, total Silver supply in 2018 is forecast to rise by 0.3% to 998.4 million ounces, according to GFMS…the increase is due to growth in mine supply, which is expected to grow to 865.5 million ounces from 852.1 million a year ago, thereby reversing a 2-year decline…scrap supply is likely to ease by 1%, according to the GFMS report…meanwhile, global physical demand is expected to contract by 3% to 963 million ounces in 2018, compared to 992.8 million a year ago…this would be the 3rd consecutive decline…bar and coin demand will be the primary driver, contracting 12.2% to 124.8 million ounces…Silver also isn’t getting as much help now from the photovoltaic sector where demand has contracted on the back of an increasingly more challenging global environment, GFMS said…“This has been particularly driven by government interventions at the two largest economies of the world.  Despite imposed import restrictions by President Trump, it is particularly changes in China that are setting the tone for slower growth.  The Chinese government introduced legislation to reduce solar subsidies in order to slow growth after new installations significantly exceeded its 13th 5-year plan budget”…

4. A sign of the times:  A complaint has been filed in U.S. District Court for the District of Idaho against the U.S. Forest Service by 2 radical environmental groups in connection with Otis Gold’s (OOO, TSX-V) recently approved Kilgore Project plan of operation (see August 23, 2018, news release)….Otis says it’ll communicate any developments in connection with this matter as they become available…in the interim, the company will continue ongoing development activities at Kilgore under the current approved Decision Notice issued by the USFS…Otis President and CEO, Craig Lindsay, stated: “Otis is committed to conducting its exploration activities in an environmentally sound manner and meeting all requirements under its approved Plan of Operation.  Our permit was issued after an exhaustive process that included the preparation of an Environmental Assessment and various public consultations. Additionally, for many years we have actively engaged with various community groups and individuals to address and mitigate any concerns, and will continue to engage and consult in this process as we move forward”…earlier this year, a group with the hashtag #Kill the Kilgore Project Before It Kills Our Grizzlies, declared, “We shouldn’t let foreign Gold companies take away our loyalty to the wild.  We shouldn’t let foreign mining interests dictate our priorities…let’s tell the Forest Service that we would rather share with Canada the safe travel of our grizzlies than the destructive extraction of our Gold“…

5. The Dow is extending last week’s losses, off 118 points as of 7:00 am Pacific…in Toronto, the TSX is 27 points lower while the Venture has slipped 3 points to 621…Radisson Mining (RDS, TSX-V) announced this morning that drill hole OB-18–84 cut 2 significant intervals of high-grade mineralization at its O’Brien Gold Project along the Larder Lake-Cadillac break, halfway between Rouyn-Noranda and Val d’Or…OB-18–84 intersected 37.5 g/t Au over 12.8 m (420 m to 432.8 m) and 8.7 g/t Au over 12.2 m (399 m to 411.2 m) where several high-grade Gold intercepts were previously obtained…the stock was halted pre-market and opened at 7:00 am Pacific up 2.5 cents at 15 cents…in Northwest B.C., Dolly Varden (DV, TSX-V) has cut 30.4 m true thickness grading 302.2 g/t Ag in the Kitsol zone, 1.5 km northwest of the Torbrit mine…in the Dolly Varden mine area, below the historic workings, hole DV18–142 yielded 2 zones – the lower of which is base metal rich and contained 7.85 m grading 71.2 g/t Ag, 5.4% Pb and 3.9% Zn, for a Silver equivalent of 532.6 g/t…Gary Cope, President & CEO, says; “The Kitsol Zone represents a promising high-grade Silver target on the property.  It is outside of the 2015 resource estimate block model.  In addition, base metals in the lower projection of the Dolly Varden mine area are becoming a significant part of the Dolly Varden story”…

6. Disappointing additional results from Aben Resources (ABN, TSX-V) from the North Boundary zone of its Forrest Kerr Project…the best they could come up with out of 15 more holes was 1.2 g/t over 21 m…President and CEO Jim Pettit tried to put the best spin on the situation:  “The 2018 season has been a geologic and technical success in terms of what we have accomplished this year.  We started out with a 5,000-m drill program and expanded it to 10,000 m after success with the drill.  We raised $5.2 million and an additional $1.7 million from the exercise of warrants.  Logistically, we adapted quickly and efficiently on the fly and actually substantially reduced our overall cost of drilling per meter.  We have identified the Boundary Zone as a very large, robust environment for Gold mineralization and discovery.  We have 9 more holes to report on from this season and we look forward to compiling all the data available to us generated from this 2018 drilling program as well as new geochemical and geophysical analysis.  It is also important to note we have the funds in the treasury for the 2019 exploration and drill program”…

7. The Globe and Mail reported this morning that weed research is catching up on lost time as legalization expands both financing and access to the controversial plant…owing to a myriad of legal challenges that had prevented scientists from getting marijuana, the end of prohibition has expanded interest in cannabis research and development…scientists are now pursuing goals ranging from saving millions of dollars in production costs, to creating precision-designed strains of cannabis capable of producing specific effects, to using elements of the cannabis plant to advance cancer research…as marijuana cultivation becomes commodified, growers are investing huge sums to gain any edge that might help maintain their product margins…Canopy Growth (WEED, TSX), for example, nearly doubled its research and development spending from $810 million in its 2017 fiscal year to $1.5-billion in 2018…“This whole area is really decades, if not centuries, behind when you look at some of the work that needs to happen on the scientific side,” said Organigram Holding (OGI, TSX-V) boss Greg Engel…with pot research restrictions now largely gone, cannabis-related academia has turned vogue…

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