Gold has traded between $1,270 and $1,338 since last night…as of 10:30 am Pacific, bullion is down $2 an ounce at $1,273…Silver is up slightly at $18.37…Copper has added another 8 cents to $2.45…Crude Oil has jumped 66 cents to $45.64…the U.S. Dollar Index, meanwhile, has defied the pundits by gaining two-thirds of a point to 98.51 after last night’s sell-off as Donald Trump made history with a critical election victory over Hillary Clinton that rescued America from slipping further down a dangerous socialist path…
The uptrends in Nickel and Copper continued this morning following the Trump victory with Copper touching $2.46 a pound and Nickel rising as high as $5.26 a pound…both are holding on to strong gains as of 10:30 am Pacific…
Hillary’s elitist sneer at Trump supporters (millions of hard-working, patriotic Americans) during the campaign – they’re a “basket of deplorables” and “irredeemable”, she said – came back to haunt her last night in the “Revolt of the Deplorables” and the “Second American Revolution” that repudiated the political and media establishment, the status quo and the far-left globalist agenda…conventional opinion polls, relied on way too much by the media outlets that had become a virtual extension of the Clinton campaign, didn’t fully gauge the urge for change and the populist sentiment among the electorate, along with the enthusiasm for the most unconventional political candidate in American history…Trump’s speech before thousands of charged-up supporters in Grand Rapids, Michigan (Democratic stronghold), in the wee hours of Tuesday morning was a clear indication the election could turn out far differently than what most pundits were anticipating…
To Clinton’s credit, she was gracious in defeat this morning with a well-received concession speech shortly after 8:30 am Pacific…”We owe him (Trump) an open mind and a chance to lead”…
Widening Budget Deficits & Inflationary Expectations Will Support Gold In Early Going Under Trump
Last night’s historic victory by Donald Trump is “bullish for Gold but not explosively so”, according to the GFMS team at Thomson Reuters…Gold this morning gave up its gains from last night when it shot up more than $50 an ounce as soon it became apparent that Trump was likely going to win, but the yellow metal should become a “buy-on-dips market” in the opinion of GFMS…
“Now we need to look to the future and the swirling uncertainties around the economic and political outlook,” GFMS says. “Certainly President-elect Trump appeared to adopt a more conciliatory tone in his initial remarks than in the oh-so-combative presidential election campaign, but the markets will need more guidance before they can settle. In the short-term, therefore, further volatility and risk-off activity could easily prompt further gains in the Gold price, while for the longer-term the picture is more hazy, but points overall to further bullish action. This, though, is more likely to be on the basis of bargain hunting into dips rather than a headlong pursuit of higher prices.”
Support could come from widening budget deficits and inflationary implications, GFMS says, and that seems reasonable…broad tax cuts, huge infrastructure spending and a necessary ramp-up in the military budget (after years of cuts by Obama) are certain to increase U.S. deficits in the early going of a Trump presidency with a plan to address the debt issue through higher economic growth later in his term…an unwinding of excessive and burdensome regulations will also help spur the U.S. economy…
Credit Suisse on the Trump victory: “Trump policies are inflationary; we see this pressuring real rates despite higher nominal yields…a pillar of Trump’s platform has been to repatriate jobs that have moved overseas; in our view, this calls for a weaker U.S. dollar, in particular against the Chinese RMB…a weaker U.S. dollar and potential for competitive currency devaluations bodes well for Gold prices and could spur additional central bank demand.”
Capital Economics Increases Year-End Targets For Gold & Silver
UK-based research firm Capital Economics has increased its year-end price targets for both Gold and Silver…the firm now expects Gold to end the year at $1,400 an ounce, up from its previous target of $1,300 an ounce, while the year-end target for 2017 is $1,450, up from $1,400…for Silver, the firm looks for prices to end 2016 at $20 an ounce, up from its previous target of $19, rising to $20.75 by the end of 2017, up from the previous target of $20.50…
Gold Long-Term Chart
Below is a look at Gold going back half a century…the RSI(14) bottoming pattern between 2013 and the end of 2015 closely resembles the one between 1997 and the end of 1999 prior to the start of the new bull market…bullion exploded early this year after breaking out above a downtrend line that had formed from the 2011 all-time high…
In Today’s Morning Musings…
1. Nickel and Copper continue their surge – fascinating long-term Copper chart…
2. Zealous about Zeolite – CNZ is one of this week’s big winners…
3. Gold Bullion (GBB, TSX-V) finds more high-grade at Granada between the 2 planned open-pits…
4. Silver Standard (SSO, TSX) jumps 10% on strong Q3 earnings report…
5. Daniel’s Den – Presidential plays…
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…
http://www.royalroadminerals.com/wp-content/uploads/2016/11/RRM-NOVEMBER-2016.pdf
check out the presentation something to watch as 2 holes sent to lab
Comment by TheSkipper — November 9, 2016 @ 3:15 pm
To all the naysayers of Trump,this is my one and only post off topic of what BMR mainly focuses on, however, you cannot ignore the fact that politics does have an effect on all of our investments. The US was headed down the road of destruction with Obama and his socialist policies which he learned from his mentor Saul Alinsky. When you read the following it is very plain to see what Obama and Hillary if elected were trying to do and that is have total Government control over the people. This is exactly the opposite of what the Fathers of the Constitution were trying to avoid.
Saul Alinsky died in 1972, but his writings influenced those in political control of our nation today.
Recall that Hillary Clinton did her college thesis on his writings and Obama wrote about him in his books.
Died: June 12, 1972, Carmel-by-the-Sea, California
Education: University of Chicago
Spouse: Irene Alinsky
Books: Rules for Radicals, Reveille for Radicals
Anyone out there think that this stuff isn’t happening today in the U.S.?
All eight rules are currently in play.
How to create a social state by Saul Alinsky:
There are eight levels of control that must be obtained before you are able to create a social state.
The first is the most important.
1) Healthcare – Control healthcare and you control the people.
2) Poverty – Increase the poverty level as high as possible; poor people are easier to control and will not fight back if you are providing everything for them to live.
3) Debt – Increase the debt to an unsustainable level. That way you are able to increase taxes and this will produce more poverty.
4) Gun control – Remove people’s ability to defend themselves from the government. That way you are able to create a police state.
5) Welfare – Take control of every aspect of people’s lives (food, housing and income).
6) Education – Take control of what people read and listen to; take control of what children learn in school.
7) Religion – Remove the belief in God from the government and schools.
8) Class warfare – Divide the people into the wealthy and the poor. This will cause more discontent and it will be easier to take from (tax) the wealthy with the support of the poor.
Does any of this sound like what is happening to the United States?
http://planetxnews.com/2015/07/31/all-of-saul-alinskys-8-levels-of-control-are-now-operating-in-america/
Comment by GREGH — November 9, 2016 @ 8:25 pm
copper 2.51$
Comment by STEVEN1 — November 9, 2016 @ 8:51 pm
Impressive, Steven1. Nickel up another 7 cents this evening as well.
Trump is promising a massive amount of infrastructure upgrade in the U.S., and being a businessman I’m sure he’ll find creative ways to help make that happen through a combination of private sector and government participation. That should help base metal demand. Stabilization in China is also helping Copper and Nickel, and the Philippines’ situation is also bullish for Nickel. The new government there hates mining. Their loss.
Comment by Jon - BMR — November 9, 2016 @ 9:00 pm
Jon
the Chinese group that you have been referring to that may have an interest in GGI and the E&L property, do you know if that group is already involved in Nickel Mines elsewhere? When will be able to know the name of this Chinese group?
thanks
Comment by GREGH — November 9, 2016 @ 9:14 pm
I am good with Trump spending a lot of money on infrastructure and maybe he can build that wall with copper and perhaps some nickel plating, add some silver and gold to make it look nice. I might start to like Trump after all.
Comment by Danny — November 9, 2016 @ 9:35 pm
Greg, we’ll comment on that further in Morning Musings Thursday but it is a very serious group out of Richmond, B.C., with big money behind it. And the money is being attracted to the E&L and, I would think it’s safe to assume, other company deposits.
Comment by Jon - BMR — November 9, 2016 @ 10:12 pm
Being a Inco/vale employee it makes me happy to see nickel and copper on the rise!
Comment by tony t — November 10, 2016 @ 4:11 am
Ggi news out
Comment by weatheritout — November 10, 2016 @ 5:07 am
Yes, GGI news is out, looks good. Plus it says at the bottom of the release that “further updates will be provided shortly”. Is Regoci turning over a new leaf?
Comment by Danny — November 10, 2016 @ 6:16 am
Those are excellent grades and extremely high Nickel tenor results, Danny, comparable actually to Voisey’s Bay…knowing the tenor is critical because this will be consistent in all the sulphides wherever they have concentrated at the E&L…makes the “Q” anomaly that much more important…this will sink in with the market soon enough…
Looks like another strong open for CNZ this morning.
Comment by Jon - BMR — November 10, 2016 @ 6:25 am
NEWS….DVR
Bonduelle North America Engages Deveron for Drone Data Services
Comment by John - BMR — November 10, 2016 @ 6:52 am
RTM – anomalous gold found in drilling and talk of old diamond results, but nothing new to revealed as to why its relevant. more staking though as majors and juniors are reported to be in explore mode in the area
Comment by david — November 10, 2016 @ 8:42 am