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

1. Gold has traded between $1,284 and $1,292 so far today…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,287…Silver has added 5 cents to $17.02…base metals are relatively quiet this morning with Nickel leading the way with a gain of 3 cents to $5.17…Crude Oil is off slightly at $47.70…the U.S. Dollar Index has rebounded off its morning lows and is now up nearly one-tenth of a point to 93.61…President Trump raised the prospect of a government shutdown at a rally in Phoenix last night as he tries to push through plans to build the wall along the border with Mexico…

2. UBS strategist Joni Teves on Gold:  “We maintain this view and think that geopolitical tensions alone are unlikely to trigger a convincing break above $1,300, unless there is a significant escalation in the situation.  Nevertheless, that the downside in Gold has been relatively contained despite fluctuations in risk appetite over the past few weeks suggests that there’s an underlying appetite to hold Gold as a safe haven and hedge against potential tail risks. We hold on to our bullish stance on Gold, expecting prices to continue higher against a backdrop of benign real rates, soft dollar, lingering uncertainty and relatively limited exposure, which suggests room for Gold allocations to grow. Having said this, although we remain convinced of the direction of travel, we do recognize that there’s growing uncertainty on the pace and extent of the uptrend.”

3. U.S. government data released moments ago could give Crude Oil a boost today…the EIA has reported an 8th straight weekly drop in U.S. Crude stockpiles and a bigger-than-expected decline in gasoline inventories…U.S. commercial Crude inventories fell by 3.3 million barrels in the week to August 18 to 463.2 million, slightly better than expectations…meanwhile U.S. gasoline inventories were down 1.2 million barrels, according to EIA, which contradicted bearish figures released yesterday by industry group American Petroleum Institute…meanwhile, the next meeting of a ministerial committee of OPEC and non-OPEC states to discuss their production pact has been proposed for September 22…

4. This morning’s flash U.S. manufacturing PMI for August, reported by research firm IHS Market, came in modestly below expectations at 52.5 vs. July’s 53.3 reading…however, this was offset by the firm’s service sector PMI reading which jumped more than expected to a 28-month high of 56.9 from July’s reading of 54.7…in other economic data released this morning, new U.S. single-family home sales unexpectedly fell in July, dropping to their lowest in 7 months which could raise concerns of a slowdown in the housing market recovery…

5. The Dow is off 59 points through the first 30 minutes of trading while the TSX is going in the opposite direction, up 51 points…the Venture has added 1 point to 765 as it continues to trade in a tight range, looking for a reason to break to the upside as certain technical models suggest it will…near-term resistance at 770 has proven to be stubborn but that wall could come down in a hurry given “hot zones” of exploration in northwest British Columbia in particular…

6. Metallis Resources (MTS, TSX-V) confirmed this morning that it has commenced drilling at its 100%-owned Kirkham Property adjoining Garibaldi Resources‘ (GGI, TSX-V) E&L Project in the Eskay Camp…drilling at Kirkham has started in the south at the Cliff target where surface mineralization at the Hawilson monzonite porphyry has been traced for at least 1.4 km along strike…the first 2 drill holes are designed to intersect Gold-rich copper porphyry mineralized zones below and south of historical drill hole MD-09–01 which featured increasing Gold and Copper grades with depth…alteration in this area is impressive…approximately 2 km to the north, crews are making preparations to drill the King high-grade Gold target adjacent to the 6-km-long Hawilson porphyry…interestingly this morning, Metallis referred to a potential structural link between Kirkham and the E&L – the 2 north-south trending properties comprise a nearly 30-km-long under-explored corridor featuring potential for multiple deposit types in this part of the Eskay Camp with deposits/mines on either side of this corridor…weather has presented challenges for all companies in the Camp over the past week but a major clearing pattern is forecast to begin by the weekend…Garibaldi appears ready to commence drilling with a rig spotted on a drill pad at the top of Nickel Mountain…no less than 10 companies now active with drill programs in the broader Eskay Heart of Gold Camp…

7.  Almaden Minerals (AMM, TSX) has discovered significant new mineralization in an upper portion of the PFS pit modeled as waste material in the company’s Pre-Feasibility Study for its Tuligtic Project in Mexico…separate intervals in drill hole TU-17–504 returned 74.5 m @ 0.66 g/t Au and 45.1 g/t Ag, and 64.30 m @ 0.79 g/t Au and 74.4 g/t Ag including a high-grade section of 10.5 m @ 3.54 g/t Au and 306.9 g/t Ag…the mineralization reported this morning confirms the importance of the emerging Ixtaca North zone, and demonstrates the potential to convert what is currently classified as waste to ore-grade material through continued drilling in this area…J.D. Poliquin, Chairman of Almaden, stated: “While we have established Ixtaca as a prominent new discovery of Gold and Silver reserves, we are clearly only at the beginning of the discovery cycle at this project. Ongoing drilling in areas within and proximal to the PFS pit will provide very useful input into the continuing work to deliver a Feasibility Study early next year, and will begin the process of testing new targets on the Tuligtic claim.”

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