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Check back later this morning for today’s BMR Morning Market Musings.

1. Bargain hunters continue to pick away at Gold to begin 2017…bullion has traded as high as $1,168 today and is up $6 an ounce at $1,164 as of 7:00 am Pacific…Gold imports to Turkey rose to 36.7 tonnes in December, up from 4.65 tonnes in the same period a year earlier, their highest monthly level in just over 2 years according to data this morning from the Istanbul bourse…for 2016 as whole, imports more than doubled to 106.2 tonnes from 48.7 tonnes in 2015…

2. Palladium has surged nearly 9% in the first 2 trading days of 2017…it’s up another $30 an ounce at $738 as of 7:00 am Pacific…the jump in Palladium, which is mostly used to clean up exhaust emissions from gasoline vehicles, could be due to anticipation of record-high American vehicle sales…U.S. auto sales figures for 2016 are due to be released later today…Platinum is up again as well this morning, adding $9 to $945…

3. Oil prices are steady this morning, around $52.50, after yesterday’s volatile session to open 2017…OPEC member Kuwait lifted expectations that producers will comply with a deal to reduce oversupply after its state-owned Oil producer confirmed today that it will cut output in the 1st quarter…

4. The Venture is quickly making its key toward key resistance at 784…the Index is up another 4 points at 778 as of 7:00 am Pacific, helped by modest gains across the commodity sector…Japan and euro zone PMI’s were both strong today which has also given North American equity markets further encouragement…the Dow has climbed 37 points while the TSX has added 64 points as of 7:00 am Pacific…minutes from the Federal Reserve’s December meeting will be released later today, possibly providing more clues on the pace of rate increases anticipated this year…following that meeting, Fed officials expected rates to rise 3 times over the course of 2017…of course around the same time a year earlier, they predicted several rate increases for 2016…

5. Doubleview Capital (DBV, TSX-V), with drill results pending from the Hat Property where hole #26 in particular could deliver stellar numbers based on reported visual analysis of the core, is threatening to break out above a downsloping channel and Fib. resistance at 10 cents…DBV is unchanged at 9.5 cents as of 7:00 am Pacific…we’ll have an updated chart in today’s Morning Musings…

6. FLYHT Aerospace Solutions (FLY TSX-V), which is making major inroads into China, provided a corporate update this morning which included news that the company has further strengthened its balance sheet with the full repayment of its outstanding redeemable debentures ($3.1 million) in late December…FLYHT is a leading provider of real-time aircraft intelligence and cockpit communications for the aerospace industry…more than 60 customers, including airlines, leasing companies and original equipment manufacturers, have installed  FLYHT’s systems to increase safety, improve operational efficiencies and enhance profitability…FLY is up a penny-and-half at 25.5 cents as of 7:00 am Pacific as it attempts a confirmed breakout above resistance at 24 cents…

7. Encanto Potash (EPO, TSX-V) is the Venture volume leader in early trading with a gain of 3 cents to 10 cents (4 million shares traded on the Venture) after announcing this morning that it has completed the “foundation for an evolutionary off-take agreement” with the National Federation of Farmers’ Procurement, Processing and Retailing Cooperatives of India Ltd. (NACOF)…the memorandum of agreement (MOA) provides for a minimum supply of 5 million tonnes per year for a minimum 20-year period, pending final negotiations…the NOCOF is a national farming cooperative under the Indian Ministry of Agriculture, Government of India representing farmers in 25 states across India…