Check back later this morning for today’s BMR Morning Market Musings.
1. After passing $1,200 an ounce yesterday for the first time since late November, Gold has pulled back $6 an ounce to $1,189 and just below its 50-day moving average (SMA) as of 7:00 am Pacific…despite this morning’s profit taking, the underlying trend in bullion has turned bullish this week as we showed in a key chart yesterday…
2. Base metals are slightly higher this morning with Copper touching $2.64 despite disappointing Chinese trade data overnight…exports in December decreased 6.1% on-year in dollar-denominated terms while imports rose 3.1% from the previous year…
3. U.S. consumer sentiment hit 98.1 in January, slightly below expectations of a reading of 98.5…December’s reading was 98.2…meanwhile, U.S. retail sales increased 4% in November and December, topping an industry estimate that predicted they would rise 3.6%…
4. The Venture is off slightly at 789 as of 7:00 am Pacific but could still post a small weekly gain after surging as much as 12.2% from its December 20 low of 711…the TSX is up 34 points in early trading while the NASDAQ has hit a new all-time high…
5. The TSX Gold Index is on track for a possible slight gain this week as the technical picture has turned decidedly bullish for producers after December’s lows…we’ll have an updated chart in today’s Morning Musings…
6. AuRico Metals (AMI, TSX-V) has released an updated NI-43–101 estimate for the company’s 100%-owned Kemess East deposit…overall, the deposit contains Indicated resources of 113.1 million tonnes grading 0.38% cent Cu and 0.46 g/t Au, and Inferred resources of 63.8 million tonnes grading 0.34% Cu and 0.31 g/t Au…the updated resources in a high-grade core have increased by 250% since the previous estimate in March of last year…they now stand at 67.2 million Indicated tonnes grading 0.43% Cu and 0.60 g/t Au and 15.2 million Inferred tonnes @ 0.41% Cu and 0.51 g/t Au…AMI is unchanged at $1.17, just 9 cents off last year’s high…
7. NexGen Energy (NXE, TSX) continues to surge, hitting a new all-time high of $3.35 during the first 30 minutes of trading this morning…NXE neighbor Purepoint Uranium (PTU, TSX-V) is steady at 16 cents, up nearly 20% for the week…
I believe that was sprott that drove ggi down in 2015,i thinks..
Comment by Laddy — January 13, 2017 @ 7:40 am
Yes.. Laddy.. I believe you are correct..
Comment by GregJ. — January 13, 2017 @ 8:02 am
Yes Sprott was also dumping but Secutor was too
Comment by Greg — January 13, 2017 @ 10:14 am
correct greg,regardless,not going to happen again,full steam ahead….
Comment by Laddy — January 13, 2017 @ 11:28 am