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Check back later today for additional posts. Also check the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,284 and $1,291 so far today…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,288…Silver has retreated 11 cents to $16.97…base metals are generally positive with Copper advancing 3 pennies to $2.99 while Nickel is up slightly at $5.27…the U.S. Dollar Index has gained one-tenth of a point to 93.25…whether the dollar goes further into the hole after Jackson Hole remains to be seen, but the currency’s technicals remain weak…

2. Markets are focused on an annual meeting of central bankers beginning today in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen and European Central Bank chief Mario Draghi are set to deliver important speeches tomorrow on the outlook for monetary policy and interest rates…Draghi yesterday warned against hasty policy responses and said gaps in understanding the workings of new policies remain….

3. Gold is on track to outperform stocks for the first time since 2011, highlighting the uncertainty that has accompanied this year’s stock market gains…Gold is up 12.1% this year while the S&P has risen 9.2%…other indicators of investor anxiety, such as the Japanese yen, Swiss franc and CBOE Volatility Index have also climbed in recent weeks…net bets by hedge funds and other speculative investors on a higher Gold price stood at 179,537 contracts for the week ended August 15, the highest level since the week ended October 4, 2016, according to Commodity Futures Trading Commission data…

4. The energy industry is closely watching Tropical Storm Harvey that could become the first hurricane to make landfall in Texas in 9 years and threaten one-third of the U.S. refining industry…meanwhile, it was confirmed yesterday that U.S. Crude Oil production hit 9.53 million barrels per day (bpd) last week, its highest since July 2015 and up over 13% from the mid-2016 low…however, U.S. Crude stocks continue to decline as data from the EIA also showed…

5. The Dow is off 22 points through the first 30 minutes of trading while the TSX has edged 9 points lower…the Venture is flat at 765 as it continues to trade in a tight range…THC Biomed International (THC, CSE) is the big gainer this morning soaring 17 cents to 50 cents on high volume (best on the CSE) after announcing that it is now authorized by Health Canada to sell dried marijuana to registered patients…

6. Garibaldi Resources (GGI, TSX-V) has commenced drilling this morning at the E&L Property at Nickel Mountain in the heart of the Eskay Camp, just 11 miles southwest of Eskay Creek…the original near-surface discovery was made half a century ago when 12 drill holes by Silver Standard (now SSR Mining) defined several Nickel-Copper-rich mineralized zones to a maximum depth of 122 m…there has been no follow-up from surface since then, however…results from mid-1960’s drilling included 37.8 m grading 1.3% Nickel and 0.79% with 5.9% Ni and 1.7% Cu at the bottom of that hole (DDH-4–1966)…based on geophysical surveys and other data, geologists believe that massive sulphides have accumulated at depth below a disseminated halo beginning at about 140 m in a textbook-style Nickel sulphide deposit that features exceptionally high tenor of the sulphide (4.8% to 8% Ni and 2.1% to 10.9% Cu)…PGE’s, Gold, Silver and Cobalt are also present in what is shaping up to be a very unique Eskay-style high-grade Nickel sulphide system that could rewrite the geological playbook for the entire Canadian Cordillera…GGI also reported this morning that ground geophysics carried out in recent days by SJ Geophysics have confirmed the existence of the Anomaly “D” VTEM conductor starting at a depth of 140 m…the trend extending for at least 6 km from the historic E&L deposit is also highly prospective with GGI crews following up on 3 high-priority conductors…meanwhile, Metallis Resources (MTS, TSX-V) continues drilling its first hole in the southern part of the Kirkham Property adjoining the E&L…more from the Eskay Camp later today including an interview with Adam Travis, Colorado Resources‘ (CXO, TSX-V) President and CEO…

7. Vanadium prices have soared to their highest in nearly 9 years due to shortages created by China’s anti-pollution drive, which has meant the country importing the steel ingredient to meet its needs…prices of ferro Vanadium, used in steel alloys, have risen nearly 90% this year to around $43 per kg, levels last seen in November 2008…Vanadium pentoxide prices have more than doubled on the spot market in Europe to $9.50 per lb from $4.65 in early January…in North America, Cornerstone Metals (CCC, TSX-V) is making a strategic move into the Vanadium space after entering into a non-binding LOI with Americas Gold Exploration Inc., a private Nevada corporation, to acquire a 100% interest in its underlying option agreement on the Carlin Vanadium project in Nevada…Carlin features one of the largest known primary Vanadium deposits in the United States and was discovered by Union Carbide Corp. in the 1960’s…they completed surface mapping, trenching and 152 rotary drill holes in 11,133 m (36,525 feet) of drilling…CCC is trading at 6.5 cents for a market cap of only $1.5 million…

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