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Gold has traded between $1,247 and $1,265 so far today…as of 9:45 am Pacific, bullion is up $17 an ounce at $1,260…Silver has jumped 63 cents to $16.97…Copper is flat at $2.07…Crude Oil, touching its highest level since July of last year, has surged 82 cents to $51.18 while the U.S. Dollar Index has fallen one-third of a point to 93.51…

Nervousness over Britain’s referendum on its EU membership on June 23 is one factor giving Gold a strong bid today, while expectations of a Fed rate hike in either June or July have dwindled substantially among mainstream investors with the greenback suffering as a result…

Commerzbank expects China’s central bank to continue purchasing Gold to diversify reserves, even though the People’s Bank of China did not do so last month for the first time since it started releasing data on a regular basis in the summer of the last year.  “We are confident that China will further top up its Gold reserves in future and that its reluctance to make any purchases in May was only temporary. After all, by international standards Gold accounts for only a very low proportion of China’s currency reserves.”

Global Growth Keeps Slowing – World Bank

The World Bank has trimmed its global GDP outlook due to sluggish growth in advanced economies, weak global trade and diminishing capital flows…the global economy is forecast to grow 2.4% this year instead of the 2.9% projected in January, the bank said in its June Gloal Economic Prospects report released today…the 2016 growth forecast for the U.S. was slashed to 1.9% from 2.7%…similarly, the projection for the next year was lowered to 2.2% from 2.4%…China is forecast to grow at 6.7% in 2016 and 6.5% next year…both figures were left unrevised…the World Bank observed that a gradual domestic re-balancing is underway, with robust growth in services and policy support measures mitigating the slowdown in industrial activity…

The Trump-Clinton Cage Match & Gold

Hillary Clinton claimed her place in history last night as America’s first female presumptive Presidential nominee, though the FBI Primary could yet derail her candidacy, but this is also the same woman who just last month, during a speech in Kentucky, referred to “my husband, who I will put in charge of revitalizing the economy ’cause he knows what he’s doing'”…good grief…she has already undermined the significance of her Democratic nomination, but by letting the man handle such an important job perhaps she’ll have the time to address national security issues and those critical 3:00 am phone calls like she did so well(?) as Obama’s Secretary of State…it’ll be fascinating to see how Clinton, uninspiring and pulled hard to the left by the Sanders’ campaign, fares in The Ultimate Cage Match with Donald Trump who KO’d 16 other strong Republican challengers…the blue collar billionaire should not be underestimated by anyone given his communication skills and the fact that the electorate is really yearning for something different and anti-establishment – the opposite, in other words, of what Clinton represents…keep in mind that Trump will not only have to overcome Hillary but BOB as well – Bill, Obama and Bernie…Gold wins either way this November, either through the world’s shock of Trump capturing the White House or another 4 years of bigger government and out-of-control U.S. debt…the greenback is in trouble…

Ontario:  Watch Your Wallets!

Ontario’s disastrous new “climate change action plan” is coming after your pocketbook and your lifestyle, if you’re a resident of that liberal stronghold…this social engineering scheme, officially being unveiled today by a government that has already proven itself to be incompetent on a host of issues, will cost up to $8.3 billion over the next 5 years according to information obtained by the Canadian Press – but Premier Justin Wynne ‘s initiative will save the planet, of course…the government has already admitted that the plan will add to monthly home heating bills (only $5 a month they claim) and the price of gasoline (an extra 4.3 cents a liter is your punishment for using that bad stuff)…

Companies Are Lining Up For This Invitation!

What a joke – Venezuela President Nicolas Maduro announced yesterday the creation of a ministry devoted just to mining as the failed socialist state, in total turmoil, attempts to develop untapped mineral resources to diversify away from the Oil industry which provides nearly all its foreign exchange.  “I announce the creation of the new ministry of popular power for ecological mining development,” Maduro proclaimed in his weekly program on state television, appointing Robert Mirabal to lead the ministry with a mandate to build international partnerships with foreign investors to boost Gold production…invading Venezuela would be a better idea…

In today’s Morning Musings…

1.  Equitas Resources (EQT, TSX-V) CEO interview as company announces major funding initiative for Brazil Gold Project…

2.  Eskay Mining (ESK, TSX-V) in “Elephant Country” next to Eskay Creek, KSM and Brucejack…

3.  Pure Energy (PE, TSX-V) update…

4.  Long-term CRB chart points to explosive 2nd half of 2016… 

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