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1. Gold has traded between $1,227 and $1,235 so far today…as of 7:00 am Pacific, bullion is off $3 an ounce at $1,230…the yellow metal has posted 4 straight weekly gains, the longest weekly winning streak since January…technically, Gold has finally pushed above its 100-day moving average but is still trying to confirm a breakout above critical resistance at $1,230…Silver is flat at $14.65…Copper is up 2 pennies at $2.82 as the metal continues to firm due to tumbling inventories on the London Metal Exchange…inventories of Copper in LME approved warehouses are down more than 60% since the 2018 peak near 390,000 tonnes…Nickel has eased off another 3 cents to $5.34…Cobalt is steady at $27.56 while Zinc is unchanged at $1.22…Crude Oil has slipped 48 cents a barrel to $67.11 while the U.S. Dollar Index has gained another one-fifth of a point to 96.66…

2. A firebrand ex-army captain has swept to victory in Brazil’s Presidential election, joining the growing ranks of anti-establishment leaders across the world and shifting Latin America’s largest nation (and the world’s 8th largest economy) sharply to the right…Jair Bolsonaro, a champion of Brazil’s 1964–1985 right-wing dictatorship that he once served, clinched 55% of the vote against Fernando Haddad of the leftist Workers’ Party…Bolsonaro’s sudden rise has been propelled by rejection of the leftist Workers Party that ran Brazil for 13 of the last 15 years and was ousted 2 years ago in the midst of the country’s worst recession and political graft scandal…a Bolsonaro presidency is expected to generate new investment opportunities, especially in the resource sector, finance and infrastructure, as he has pledged to open more of the Amazon to farming, mining and hydroelectric dams, while also privatizing some government-owned companies…he won significant backing from rural lawmakers who say Brazil’s rules on deforestation and land management are too onerous for business…his proposals to increase extraction have been lambasted by environmentalists and Indigenous groups who accuse him, of course, of putting the planet in peril…Brazil’s stock market has responded bullishly to the change that Bolsonaro is expected to bring…

3. China’s yuan closed at its weakest in over a decade today, losing 0.16% to end the domestic session at 6.9560 per dollar and stirring speculation over whether the central bank will tolerate a slide beyond the key level of 7 per dollar…meanwhile, profit growth at China’s industrial firms slowed for the 5th consecutive month in September as sales of raw materials and manufactured goods further ebbed, pointing to cooling domestic demand…China’s major stock indexes closed more than 2% lower today…

4. The TSX tumbled into official “correction” territory last week, marking only the 6th time since the global recession in 2008 that the S&P/TSX composite index has fallen by more than 10%…the drop, which saw the index hit a yearly low of 14,732 in intraday trading Friday – well below its July peak – is being attributed to concerns over global trade tensions and rising North American interest rates…the previous 5 TSX corrections occurred in 2008, 2011, 2012, 2014 and 2015, according to BMO Capital Markets data…the 2 shortest and least painful corrections in 2012 and 2014 saw market declines of 11.5% and 12.5%, respectively…investors should be encouraged by the fact that on average, the TSX gained 18.2% following these 5 corrections…

5. The Dow has rebounded 274 points after the first 30 minutes of trading to start the new week…the sell-off in equities over the past few weeks has gotten “overdone” and will be offset in part as companies get back to buying back their own shares, according to a Goldman Sachs analysis that sees the market gaining close to 6% over the next 2 months…in Toronto, the TSX has rebounded 101 points while the Venture is flat at 643…marijuana stocks remain under pressure…GT Gold (GTT, TSX-V) has hit a new 2018 high of $2.06 in early trading…more results are expected soon from GTT’s Saddle North, the best Gold-rich porphyry discovery in British Columbia in many years with world class intercepts…in the Eskay Camp, Metallis Resources (MTS, TSX-V) has drilled into its highest Gold values yet at its Hawilson porphyry target at Kirkham – 37 m grading 1.54 g/t Au in KH18–14 (36 m to 73 m)…MTS also intersected 141 m @ 0.40 g/t Au and 0.23% Cu in KH18–16…evidence suggests that the Hawilson monzonite was intruded as NS-trending stocks and dikes with porphyry systems preserved at shallow levels, similar to some of the Gold-rich porphyry deposits of the Maricunga Belt in northern Chile…the porphyry has never been the driver of the MTS share price, however…the company has more results pending from other targets at Kirkham, notably Thunder North, Cole and Nina…

6. A Gold stock to keep an eye on:  GFG Resources (GFG, TSX-V) has commenced drilling at its 100%-owned Pen Gold Project west of Timmins within the western portion of the Abitibi greenstone…the objective of this initial drilling is to drill test approximately 15 priority targets distributed across a 20-km segment in the eastern portion of the project (25 to 30 holes ranging in depth from 150 to 300 m)…in conjunction with the drill program, the company continues Phase 2 till sampling…it’s also carrying out an extensive IP survey of the Reeves regional target area while advancing other priority regional targets across the district-scale land package…“Following months of hard work we are very excited to begin the Phase 1 drill program at our recently acquired Pen Gold Project,” stated Brian Skanderbeg, GFG President and CEO.  “With the use of modern technology and integration of historic data at a district scale, our technical team demonstrated that this area is highly prospective and has identified numerous high priority targets.  Our focus during this Phase 1 drill program will be on 3 camp scale targets that have the potential to yield multiple Gold discoveries”…

7. Critical Elements (CRE, TSX-V) announced this morning that the company’s pilot plant program recently completed at the Outotec Research Center in Finland has successfully converted spodumene concentrate from the Rose Project into battery grade Lithium hydroxide using a thermal leaching process…CRE says this achievement, in conjunction with Lithium carbonate and spodumene production, gives the company the flexibility to meet all needs of cathode, battery and electric vehicle producers…the pilot plant conversion process from spodumene concentrate to Lithium hydroxide demonstrated strong results with extraction rates of 93%…this extraction rate surpasses the worldwide average of between 70 to 75% in what is accepted as an industry standard…in addition, the pilot plant produced battery grade Lithium hydroxide with 99% purity…

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