Gold has traded between $1,278 and $1,292 so far today…as of 10:30 am Pacific, bullion is down $25 an ounce at $1,279…Silver has fallen 24 cents to $18.16…Copper, which is showing impressive strength, has added another nickel to $2.30…Crude Oil is up 27 cents at $44.34 while the U.S. Dollar Index has recovered half a point to 97.80…
Powerful gains in equity markets, and most investors’ perception that Hillary Clinton will win tomorrow’s Election Day showdown against Donald Trump, have put pressure on Gold prices today…bullion jumped $29 an ounce last week on increased uncertainty surrounding tomorrow’s big day but has given up most of that advance overnight and this morning…
With just 1 day to go before Election Day, Clinton holds a 4-point lead over Trump according to the final Fox News national pre-election poll of likely voters released this morning…she’s ahead by 48–44% while Gary Johnson receives 3% and Jill Stein 2%…the last Fox News poll, released Friday, had Clinton ahead by 2 points in the 4-way race and 1 point in the head-to-head matchup…Clinton is now winning among women by 12 points (52–40%), blacks by 85 (89–4%), Hispanics by 33 (63–30%) and voters under 30 by 16 (51–35%)…
Meanwhile, Fivethirtyeight.com’s models, which analyze all polling results, put Clinton ahead by 3.1 percentage points in the national popular vote while giving her a 66% chance of winning the electoral college and the presidency…
Markets are clearly pricing in a Clinton victory but the big question to be answered tomorrow is whether conventional polling methods have accurately gauged the support of the most unconventional presidential candidate in American history…the final poll, the only one that counts, comes tomorrow night from the American people…
In Today’s Morning Musings…
1. Canadian Zeolite (CNZ, TSX-V) targets the medical marijuana industry…
2. Fresh charts on Silver…
3. Heart of Gold Camp rumors…
4. Daniel’s Den – the raging bull market in gun stocks continues if Hillary wins tomorrow…
Plus more…click here to read the rest of today’s Morning Musings and all BMR exclusive content, through a risk-free Pro, Gold or Basic package, or login with your username and password…
The beauty with CNZ is it will push through .60 rather quickly and be on its way to a dollar. That will put it at a 22 million market cap, thats peanuts for a stock who has 0 costs and in production.
NRN – NR this week, probably by Wednesday.
PMA – BMO really accumulating today, hmmmm
Comment by dave — November 7, 2016 @ 11:05 am
Well, all I have to say is this will be a close one, remember brexit folks!!
Comment by Laddy — November 8, 2016 @ 5:54 am
Laddy, I would agree…polls generally have Clinton leading by 3-4 percentage points nationally, while fivethirtyeight’s modeling gives Trump about a 30% chance of winning the electoral college and the presidency. But I suspect this could be a nail biter. Trump is already assured of doing better than Romney in 2012. Florida, Ohio, North Carolina, Pennsylvania, Michigan, New Hampshire and Nevada are key states to watch.
Comment by Jon - BMR — November 8, 2016 @ 6:31 am
I was wondering if you were still bullish on HOU?
Comment by Ciara — November 8, 2016 @ 6:34 am
Absolutely, Ciara. Hang in there. We’ll be updating Oil later this morning. We had an initial pullback in the HOU on a previous recommendation and it ultimately zoomed higher as expected; this should be no different when you see how the technicals are aligned. I believe OPEC will pull something together as well.
Comment by Jon - BMR — November 8, 2016 @ 6:37 am
Thanks Jon. Looking forward to the update later this morning.
Comment by Ciara — November 8, 2016 @ 6:49 am
7:45 am Pacific…
Copper…up 6 cents at $2.36
Nickel…up 5 cents at $5.08
Platinum…up $14
Palladium…up $13
Comment by Jon - BMR — November 8, 2016 @ 7:44 am