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

1. Gold has traded between $1,331 and $1,346 so far today…as of 7:00 am Pacific, bullion is down $13 an ounce at $1,331…Silver has slipped 18 cents to $16.32…the Gold-Silver ratio, currently 81.5, has only traded above 80 four times during the past 20 years…in early 2016 it reached 83.8 due to worries about a Chinese economic slowdown…during the financial crisis in 2008 it climbed as high as 84.5…Copper is flat at $2.99…strikes that boosted the red metal last year haven’t materialized so far this year, but supply disruptions and stronger economic data are factors that could push Copper significantly higher later in the year…Nickel is up 5 cents at $5.91…Zinc is unchanged at $1.49…Cobalt is steady at $42.75…Crude Oil has retreated 57 cents to $64.58 while the U.S. Dollar Index has rallied more than one-tenth of a point to 89.46…on the international front, China said today that it won a pledge from North Korean leader Jim Jong Un to denuclearize the Korean peninsula during a meeting with President Xi Jinping, who pledged in return that China would uphold its friendship with its isolated neighbor…the trip to China was Little Rocket Man’s first known journey abroad since he assumed power in 2011 and served as preparation for upcoming summits with South Korea and President Trump…the President’s unorthodox style seems to have worked with North Korea, much to the astonishment of the liberal mainstream media…

2. The third and final reading of 4th quarter U.S. GDP released this morning exceeded expectations and was buoyed by the biggest gain in consumer spending in 3 years…the American economy expanded by 2.9%, up from the previous estimate of 2.5%…consensus forecasts were calling for growth of 2.7%…for the year, the U.S. economy grew 2.3% in 2017, up from 1.5% growth during the the last year of the Obama administration…

3. Saudi Arabia and Russia are working on an historic long-term pact that could extend controls over world Crude supplies by major exporters for many years to come…Saudi Crown Prince Mohammed bin Salman told Reuters that Riyadh and Moscow were considering a longer deal to extend a short-term alliance on Oil curbs that began in January 2017 after a crash in Crude prices.  “We are working to shift from a year-to-year agreement to a 10–20 year agreement…we have agreement on the big picture, but not yet on the detail,” the crown prince told Reuters…news of the potential Oil alliance comes at a time when Riyadh and Moscow have worked to cement an economic relationship despite being at odds over the conflict in Syria, where they back opposing sides…the crown prince predicts that world Oil demand will not peak until 2040, despite advances in renewable energy technologies and the electric vehicle…

4. One would think that the radical local and provincial politicians in B.C. who are trying to stop the Kinder Morgan pipeline expansion through expensive court challenges would have gotten the message by now, but apparently not…since 2014, the courts have ruled in Trans Mountain’s favor 14 out of 14 times in cases challenging the regulatory review process or decisions related to the project (more decisions are pending)…the latest victory came Friday, but yesterday the City of Burnaby announced that it’s now turning to Canada’s highest court in yet another effort to block the project (another waste of time and money, only the lawyers will benefit at taxpayers’ expense)…Mayor Derek Corrigan says the city plans to ask the Supreme Court of Canada to consider a lower court decision that denied Burnaby leave to appeal a ruling by the National Energy Board…that ruling allowed Kinder Morgan to bypass local bylaws during construction of the pipeline expansion (inter-provincial pipelines fall under federal jurisdiction)…Corrigan says the city has asked its legal counsel to file the appeal application within 60 days…he says the Federal Court of Appeal did not consider arguments made by Burnaby and the provincial government.  “The court system should be the body that decides whether or not this is fair and just, but they dismissed our application without reasons, ” Corrigan complained.  “Very clearly, it’s something the court should have dealt with and given reasons why it’s not allowing the provincial government to exert its authority to protect the environmental interests of B.C.  I think the National Energy Board has shown itself to be an agent of the Oil industry.  I think most people across Canada who have been in opposition to the pipeline feel the process hasn’t been fair and that it is in the direction of the Oil companies.”

5. Jurisdictional risk reared its ugly head again this morning…GoldQuest Mining (GQC, TSX-V), which has been operating for a long time in the Dominican Republic, has been advised that the Penal Chamber of the First Instance Court of the Judicial District of San Juan de la Maguana has reached a decision in response to a constitutional injunction remedy filed by a group of individuals in the Dominican Republic against the company’s wholly-owned subsidiary, GoldQuest Dominicana SRL…in a news release this morning, GoldQuest said the only information the company has at this time regarding the decision is a verbal summary of the decision that was delivered by a court clerk…the summary included a requirement that GoldQuest suspend its activities at its Romero Project until certain certificates and licenses are issued in favor of the company…the written decision of the court, including the reasons for the decision, has not yet been issued and is expected in approximately 1 week…GoldQuest says the summary of the decision is unclear in a number of respects, and the company is seeking to clarify the decision with the court…GQC is off 5.5 cents at 23.5 cents as of 7:00 am Pacific…

6. The Dow is up 111 points as of 7:00 am Pacific but it was up early yesterday before closing down 344 points in another volatile session…  Cisco and Intel are the only Dow stocks that have climbed in value since the index hit an all-time high January 26...Goldman Sachs has slashed its Apple iPhone sales estimates for the first 2 quarters of the year…“iPhone demand expectations for March and June are already weak but we believe that early CQ1 (calendar 1st quarter) demand indications suggest even lower actual numbers than consensus is modeling,” the firm said in a note late yesterday…in Toronto, the TSX is down 9 points while the Venture has slipped another 11 points to 792…the RSI(2) reading on the Venture daily chart is at its most oversold level since the summer of last year…IAMGOLD (IMG, TSX) has released an initial resource estimate for the Monster Lake Gold Project in Quebec showing 1,109,700 tonnes of Inferred resources averaging 12.1 g/t Au, resulting in 433,000 ounces of Gold…IAMGOLD has a 50% interest, while TomaGold (LOT, TSX-V) has 45% and Quinto Resources (QIT, TSX-V) has 5%…LOT is up a penny-and-a-half to 7.5 cents on heavy trading as of 7:00 am Pacific…

7. Cannex Capital Holdings (CNNX, CSE), a new issue on the CSE that made its debut March 14 and quickly ran as high as $1.93, announced this morning that its wholly-owned American subsidiary has developed and commercially launched a new edibles brand, Hi-Burst, to strong initial reviews and excellent retail demand…the new Hi-Burst brand is an infused fruit chew offered in a wide variety of flavors…the Hi-Burst recipe and brand has been licensed exclusively to its subsidiary’s long-term strategic tenant, Northwest Cannabis Solutions, which is the leading manufacturer of edibles and other derivative products in the Washington state…the retail market for edibles in that state is roughly $180 million (U.S.), and has continued to grow since the Washington recreational market came on-line in 2014…as of 2016, edible sales made up 10% of the United States’ recreational cannabis market, increasing to 13% in April 2017, according to BD Analytics…in the last year, sales of edibles in Washington increased by 121%…candy makes up the largest portion of the Washington edibles market with $10.8 million (U.S.) in sales in 2017, up 28% from the previous year…for users, edibles provide a discreet, accurately measured dose without requiring smoke or vaporization…

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