Gold has traded between $1,190 and $1,202 so far today on this final day of 2014…as of 7:30 am Pacific, bullion is down $9 an ounce at $1,191 after yesterday’s impressive move…Silver is off 46 cents at $15.81…Copper is off a penny at $2.88…Crude Oil hit a new 5-and-a-half year low this morning and is currently down 89 cents a barrel to $53.23, while the U.S. Dollar Index has gained one-tenth of a point to 90.07…
We will be posting tomorrow on New Year’s Day, even though markets are closed, so please check back here for updated Gold and Venture charts plus other information as 2015 begins…BMR will then be on a 3-day break between Friday and Sunday with Morning Musings resuming Monday, January 5 (no Morning Musings Friday)…
Gold prices have been relatively less volatile in 2014 compared to last year’s 28% sell-off and $500 trading range…bullion has traded in a range of just $260 this year and has shown resilience in the face of declining Oil prices and a strong greenback after briefly touching $1,130, a 4-and-a-half low, in early November…the U.S. Dollar Index is poised to make its biggest yearly gain since 2005, with more strength probable in 2015 given bullish technical and fundamental factors…
Holdings in the world’s largest Gold-backed ETF, the SPDR Gold Trust, have fallen by 140 tonnes this year to a 6-year low of 710.81 tonnes…redemptions, however, were far less than they were in 2013 when the fund saw a record outflow of 460 tonnes, or 39%, to around 850 tonnes… test
I see that Cannabix announced today that 2 directors resigned. In my years of following penny stocks, that is almost never a good sign. Hopefully this is a rare exception.
Happy New Year everyone!
Comment by Danny — December 31, 2014 @ 1:10 pm
Danny, I look at it differently. Sometimes it’s good to get rid of a director or 2 and bring in some fresh blood. In this case, these 2 gentlemen were directors of the company going back to late 2011 when it was a resource company. That was 3 years ago. BLO is a different animal now, and Kal Malhi is also now involved. So it would make sense that they might have a couple other individuals in mind with different credentials to bring onto the board to strengthen it.
Comment by Jon - BMR — December 31, 2014 @ 1:35 pm
Geez, maybe I shouldn’t have said anything,oh well, at least the venture ended positive, happy New Years folks.
Comment by Tombc — December 31, 2014 @ 2:32 pm
Happy New Year to all.
Comment by dave — December 31, 2014 @ 3:21 pm
Jon, you know the history and inner workings of Cannabix better than I do so I will trust your judgement on this one. Thanks for the reply.
Comment by Danny — December 31, 2014 @ 5:57 pm
I’m staying away from all publicly traded medical marijuana producers for the time being. My concern is based upon comments from the Federal Appeals Court that could indicate that any person with a medical marijuana prescription will be able to produce their own medicine. While the rest of the world is moving towards legalization, Canada has been pushing towards an oligopoly of supply. With legalization and even one producer selling plants / clones the game will be over for these new producers. Just my opinion. Happy New Year.
Comment by Peter — January 1, 2015 @ 6:32 am
Good point, Peter, I tend to agree with you; in the context of the discussion regarding Cannabix, of course BLO is sort of the “anti-marijuana” play where it will benefit from a growing acceptance of marijuana in society in general with a device that law enforcement needs to catch those under the influence while driving, and in certain workplace environments…
Comment by Jon - BMR — January 1, 2015 @ 9:17 am