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1. Gold has traded between $1,337 and $1,346 so far today following a rather ho-hum Fed statement yesterday…U.S. dollar weakness continues and that will be supportive of bullion…as of 7:00 am Pacific, bullion is down $4 an ounce at $1,341…Silver has slipped 18 cents to $17.13…on the base metal front, Copper is off 2 cents to $3.18…Nickel is up a penny at $6.19…Zinc and Cobalt are both steady at $1.62 and $36.40, respectively…Crude Oil has climbed 62 cents to $65.35…Goldman Sachs has raised its 2018 Oil price forecasts, projecting that Brent Crude will soon top $80, fueled by blockbuster Oil demand, a deal among big producers to limit output, and U.S. drillers’ inability (despite increasing production) to meet the world’s growing energy appetite…the U.S. Dollar Index has fallen one-tenth of a point to 88.98…as expected, the Fed decided to leave interest rates unchanged, but said it expects inflation to move “up this year and to stabilize” around its 2% target…as a result, bond yields rose in anticipation that the Fed might step up the pace of policy normalization…however, keep in mind that the Fed has consistently overestimated inflation in recent years…

2. Oil traders brushed aside some bearish U.S. data and have pushed prices higher today on further evidence that OPEC’s commitment to its supply cuts remains firmly in place…U.S. production has topped 10 million barrels per day for the first time since 1970 and is very close to an all-time record, the Energy Information Administration said yesterday…the EIA also reported the biggest increase in Crude Oil stocks since March last year, a rise of 6.8 million barrels…Americans are pumping out Oil faster than rabbits can make bunnies, but OPEC constraint and strong global economic growth are providing a positive price environment…in many parts of Canada, though, Oil has unfortunately become a dirty word among the growing globalist crowd which has enthusiastically embraced the new religion of climate change extremism…

3. While Canadian political leaders focus on getting pot to market, an extremely serious situation is unfolding in Canada’s energy sector, particularly after this week’s illegal, unconstitutional move by the radical new B.C. government to further delay or even block the already approved and critically important Kinder Morgan pipeline expansion…if only Alberta had a Ralph Klein in power right now (Jason Kenney’s turn won’t come until next year)…threatening to take B.C. to court will do nothing to stop the Green Monster in that province – immediate and serious economic retaliation by Alberta is the only answer, especially if the Feds shirk their responsibility for political reasons…pipelines that cross provincial boundaries are federal jurisdiction and Ottawa signed off on the Trans Mountain expansion in November 2016…the previous B.C. government also endorsed the project…Canada’s Oil and gas producers are struggling to stay competitive with their U.S. counterparts because of the serious problem with lack of pipeline capacity, a fact outlined in a new report from the C.D. Howe Institute just days before the federal government is expected to unveil how it plans to overhaul the environmental and regulatory review process for major energy projects…

4. ML Gold (MLG, TSX-V) is trading briskly this morning as the news from its Stars Project in central British Columbia keeps getting better…this morning the company reported that it has intersected a 230-m interval with visual Copper and Molybdenum…significantly, the hole was drilled into a target area over 1 km west of the previously reported drilling…while observed mineralization in hole 5 is not visually as intense as in hole 4, it does appear to be part of the same system identified 1 km to the east, providing evidence of scale…Adrian Smith, President of ML Gold, stated:  “Copper mineralization has now been observed over 1 km away from hole 4 and confirms that we have a large system on our hands. Further, detailed logging of hole 4 indicates it could in a high level setting of a Copper-rich porphyry system. We are seeing Copper veining cutting multiple rock types, including earlier Copper veins, implying a large scale with multiple pulses of Copper-rich fluids. We feel extremely lucky that mineralization begins at surface and feel confident that it could extend to significant depth.” MLG gapped up at the open to 23 cents and is 3.5 cents higher at 24.5 cents after the first 30 minutes of trading…

5. The Dow ended January with a gain of 5.6% while the S&P 500 rose 5.8% in the same period…both indexes posted their best monthly performances since March 2016…between 1950 and 2017, the “January Barometer” (as January goes, so goes the year) has been correct 58 of 67 times, or approximately 87%, according to the Stock Trader’s Almanac…U.S. markets are relatively unchanged after the first 30 minutes of trading this morning…in Toronto, the TSX has slipped 50 points while the Venture is flat at 864…strong interest in the Cobalt sector is underscored by the recently completed $8.5 million financing of M2 Cobalt (MC, TSX-V) which has acquired 7 exploration licenses spanning 1,564 sq. km in Uganda…the stock, formerly known as Accend Capital, resumed trading just over a week ago after a more than 2-month halt as the Exchange reviewed the property acquisition…Silver Bull Resources (SVB, TSX-V) has drilled 17 m grading 301 g/t Silver and 1.75% Copper in its continuing underground drill program targeting a newly discovered sulphide zone under the previously defined oxide zone at its Sierra Mojada Project in Coahuila, northern Mexico…

6. Bitcoin’s January slide knocked $44.2 billion (U.S.) off the $200 billion (U.S.) in market value generated in all of last year, the biggest 1-month loss in dollar terms in the short history of digital assets…a record $500 million (U.S.) heist of an alternate coin at Japanese exchange Coincheck on January 26 upped the pressure on regulators to probe business practices within the largely unregulated industry, while authorities trading hotbed South Korea continue to debate more serious measures including a ban on such exchanges…meanwhile, 2 days ago, the Securities and Exchange Commission halted a $600 million initial coin offering, one of the biggest U.S. interventions yet into the world of raising money by issuing digital tokens…

7. NexGen Energy (NXE, TSX) has started its winter 2018 drill program at its 100%-owned Rook I Property in the Athabasca basin, Saskatchewan…the program consists of approximately 25,000 m using 8 drill rigs and has several key objectives…at the Arrow deposit, drilling will focus on further A3 high-grade zone definition, targeting the large untested areas surrounding the A1 to A5 shears, potential extensions of the shears particularly to the northeast, and definition of newly discovered high-grade mineralization northwest of the A1 shear …at South Arrow, drilling will continue to focus on defining the extent of Uranium mineralization in all directions…further, highly ranked geophysical targets on the Arrow, South Arrow and Mirror conductors will be targeted after encouraging results from geophysical surveys conducted predominantly in 2016 and 2017…

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