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1. Gold has traded between $1,288 and $1,295 so far today…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,290…Silver is 4 cents lower at $15.04…base metals have firmed up on encouraging news regarding China…Nickel has jumped 11 cents to $6.06, Copper has added 2 cents to $2.93 while Zinc has also added a couple of pennies to $1.36…Cobalt is on the rebound, up 91 cents at $14.52…Crude Oil has gained another 12 cents to $62.70 while the U.S. Dollar Index has pulled back one-fifth of a point to 97.17…some weaker than expected economic numbers out of the U.S. this morning…growth in the services sector last month was at its slowest pace in more than a year…the ISM non-manufacturing index fell to 56.1 in March, down from 59.7 in February…economists polled by Refinitiv expected the index to dip to 58…“The non-manufacturing sector’s growth cooled off in March after strong growth in February,” ISM noted in a statement…“Respondents remain mostly optimistic about overall business conditions and the economy.  They still have underlying concerns about employment resources and capacity constraints”…meanwhile, U.S. job growth based on numbers from ADP and Moody’s Analytics hit an 18-month low in March…private payrolls increased by just 129,000 for the month, well below the 173,000 that economists surveyed by Dow Jones had expected…the weakness was offset somewhat by an upward revision for February, which went to 197,000 from an initially reported 183,000…overall, though, March was the worst month since September 2017, which saw an increase of just 111,000…the Labor Department reports non-farm payrolls Friday…another breathtakingly insane economic idea from a radical U.S. Democrat..Senator Ron Wyden, D-Ore., is proposing a so-called mark-to-market version of the capital gains tax…put more simply, investors would pay capital gains taxes each and every year in which their assets go up in value, instead of only when they are sold…this tax on unrealized gains would be not only difficult to implement but also could devastate markets, especially liquid markets, where stocks, bonds and commodities trade…the annual tax would also apply to illiquid investments like the value of a private company, real estate and other complex investments…

2. World stocks are at their highest in 6 months after data overnight showed the China services sector hit a 14-month high in March…the report, which helps to allay fears about a global economic slowdown, comes on the heels of upbeat manufacturing data in China…comments from White House economic adviser Larry Kudlow yesterday that the U.S. and China “expect to make more headway” in trade talks this week have fired up hopes of a resolution to the months-long trade battle between the world’s 2 biggest economies…

3. Caterpillar (CAT, NYSE), considered a bellwhether for the global economy, came under pressure at the open this morning but has started to rebound after Deutsche Bank downgraded the maker of earth movers and other construction equipment based on a bearish view of the global economy…“Synchronized global growth has collapsed, the China Land Cycle is rolling over (and will continue to weaken despite the single positive data point this week), Europe is slowing more than expected and the U.S. is oversaturated with construction equipment.  Each of these factors alone are powerful drivers of CAT’s earnings, but together this synchronized slowdown will not only usher in a negative earnings revision cycle, but also make 2019 the cyclical peak”…hmm…on a more positive note, IMF manager director Christine Lagarde says the Federal Reserve’s “more patient pace of monetary policy normalization” will provide some thrust to global growth in the 2nd half and into 2020…however, years of high public debt and low interest rates since the financial crisis a decade ago have left limited room in many countries to act when the next downturn arrives, so countries need to make smarter use of fiscal policy…

4. The Dow is up 15 points through the first 30 minutes of trading…in Toronto, the TSX has added 41 points while the Venture has slipped 1 point to 625 as it continues to hug its rising 50-day moving average (SMA)…Alamos Gold (AGI, TSX), which has been one of the top-performing Gold stocks this year, reported this morning that its Mulatos mine in Mexico produced its 2 millionth ounce of Gold in March…this milestone also marks the end of the 5% net-smelter-return royalty (NSR) that the operation has been paying since the start of production in 2005 (some people got very rich on that)…at the current Gold price, this represents a savings to Alamos of approximately $65 per ounce, which has already been incorporated into previously disclosed guidance…Corvus Gold (KOR, TSX) has drilled 41.1 m @ 2.8 g/t Au and 30.5 m @ 1.7 g/t Au, ending in 4.1 g/t, in separate intervals in ML19–109 as it tests a deep intrusive zone below the existing Mother Lode deposit in Nevada…the new discovery is now outlining an intrusive related deep Gold zone below the main deposit which the company’s believes could offer additional resource expansion potential…further follow-up drilling will be testing this new lower Mother Lode zone over the next few months…

5. The Ford Conservative government in Ontario has a unique and terrific branding idea (the left wing mainstream media hates it) which underscores why investing in the Ontario resource sector is more attractive than ever…the government intends to use “Open For Business” as the new slogan on commercial licence plates…the slogan on plates for passenger vehicles will also be changed…“I can tell you that people across this province want change.  They voted for change, and they’re getting change,” Ford stated…”Yours to Discover” has been on Ontario plates for 37 years…“What we want to do is turn the channel; we want to turn the page on a dire economic situation that the Liberal government after 15 years of mismanagement left us in,” Government Services Minister Bill Walker said…“We want to ensure that Ontario says to the world, ‘We are back on stage’.  We’re looking at all kinds of different options to brand our province as open for business, open for jobs”…

6. A new pot stock started trading on the CSE this morning – Vibe Bioscience (VIBE, CSE) also announced that, through its U.S. subsidiary, it has entered into a purchase agreement to acquire all of the membership interests in the outstanding securities of EVR Managers, LLC  which holds a license for an adult use cannabis retail operation located in Redding, California…completion of the Redding acquisition and necessary improvements to the Redding site will add a 3rd licensed, adult use recreational Cannabis dispensary to Vibe’s cannabis operations in California…upon completion, Vibe expects the Redding site to have the potential to generate up to $5.5 million (U.S.) in revenue during its first 12 months of operations based on management’s analysis of trends, current conditions and expected future developments…Vibe describes itself as a vertically integrated cannabis company whose mission is to become a dominant California cannabis retailer and multi-state operator…VIBE opened at 97 cents and is trading at 85 cents as of 7:00 am Pacific…

7. California Gold Mining (CGM, TSX-V), which is doing some interesting things with its Gold property in Mariposa county, has entered into a term sheet with Toronto-based alternative credit firm Romspen Investment Corp., outlining the terms of a secured credit facility to finance the development and operation of the company’s recently announced high-cannabidiol industrial hemp seed propagation project on its 100%-owned, 3,351-acre, privately held Fremont Property in Mariposa county…Vishal Gupta, CGM’s President and CEO stated, ”This credit facility provides us with the funding to finance the entire capital expense of developing the 27,000 square foot greenhouse, and a substantial portion of our first year’s operating expense related to the propagation of high-CBD industrial hemp seed on the Fremont Property. We are delighted to receive this endorsement as we enter the nascent industrial hemp space with a view towards creating shareholder value, while minimizing shareholder dilution”…

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