Check back later this morning for today’s Morning Musings.
1. Gold begins November on a positive note, with its “Trump” card coming into play, after a $39 or 3.0% drop in October…going back 2 decades, as we’ll show in a seasonality chart in today’s Morning Musings, October has been one of Gold’s worst months of the year but November is a different story with an average total return of 1.9%…Gold is up $11 an ounce at $1,288 as of 7:00 am Pacific, the TSX Gold Index has climbed 5 points to 230 while the Venture is rising in sympathy, up 7 points at 780…
2. Venture posted just its second losing month since the new bull market began in February with a loss of 27 points or 3.3% in October…historically, November has been a better overall return month for the Venture…
3. Upbeat economic data out of China overnight including the fastest rate of improvement in factory activity since 2011, according to the private Caixen survey, while service sector growth accelerated to its highest level since late 2015…
4. Orca Gold (ORG, TSX-V) is pushing higher in early trading on positive results from the first metallurgical core holes drilled at the Galat Sufar South deposit (Block 14 Project)…
5. Callinex Mines (CNX, TSX-V) reported this morning that it has commenced an aggressive step-out drilling campaign of up to 10,000 m with 2 rigs to expand its new Zinc and Gold-rich VMS discovery at its 100%-owned Pine Bay Project in Flin Flon, Manitoba…CNX is up a penny at 56 cents after 30 minutes of trading…
6. Kootenay Silver (KTN, TSX-V) submits drill core for assaying from 11 holes at the Ram target at its Ciguera Silver Project in Mexico and moves its drill rig to the La Soledad zone 1,000 m south of La Ciguerra resource…KTN believes the Ram target has potential to host high-grade Silver mineralization within a large structurally controlled anomalous Silver trend 3.8 km long…KTN is up 1.5 cents at 45.5 cents as of 7:00 am Pacific…
7. Today’s LA Times/USC poll has Donald Trump leading Hillary Clinton by 3.6 points…the Investors Business Daily poll has Clinton ahead by less than 1 point while the ABC News tracking poll that had Clinton ahead by 12 points last week now has Trump ahead by 1 point in the wake of “Weinergate”…meanwhile, fivethirtyeight.com says the odds of a popular vote/Electoral College split are increasing with Trump having a 10% chance of winning the White House while losing the popular vote…overall, fivethirtyeight.com com gives Clinton a 75% chance of becoming President, down from last week’s numbers…
