Gold has traded between $1,165 and $1,181 so far today…as of 11:30 am Pacific, bullion is up $5 an ounce at $1,174…Silver, at $17.15, has jumped 45 cents…Copper is off 5 pennies at $2.62…Nickel has retreated 9 cents to $5.14…Crude Oil is 68 cents lower at $50.25 while the U.S. Dollar Index has lost one-third of a point to 100.25…
There are some very divergent outlooks among major analyst groups regarding Gold’s path in 2017 (we take the bullish side given the signals being sent by the Venture)…Credit Suisse gave its updated view yesterday, calling for the yellow metal to average $1,338 an ounce as it draws support from increased trade protectionism, geopolitical-related currency volatility and improved Asian demand…the bank looks for $1,275 Gold in the 1st quarter and $1,400 in the final 3 months of 2017…
Looking ahead, Credit Suisse argues against the view of many pundits that President-elect Donald Trump’s fiscal policies are likely to hurt Gold…the market has factored in an expectation that a mix of U.S. tax cuts, deregulation and infrastructure spending will boost the economy, pushing up real interest rates and strengthening the U.S. dollar. “We counter that trade protectionism and anti-immigration policies are negative for growth and positive for inflation,” Credit Suisse said…
Meanwhile, no one seems to be talking much about the likelihood of higher U.S. budget deficits and debt, and the impact that could have on Gold, though Credit Suisse did touch on that briefly in its report…
It appears that just about everyone who has been highly motivated to dump Gold prior to next week’s Fed meeting and an interest rate has already done so after the metal hit an intra-day low of $1,157 Monday…Gold should take its next cue from how dovish the ECB comes across in its meeting tomorrow…the central bank is expected to change the terms of its asset-purchase program to alleviate a bond shortage and extend purchases beyond March 2017…
Alberta’s Drop In Fraser Institute Rankings Is An Embarrassment
The fact that Alberta, once a magnet for investment and the heartbeat of Canadian capitalism, has plummeted in the global rankings of most favored jurisdictions for investing in Oil and gas, should be an embarrassment to that province and Canada as a whole…Alberta now ranks 43rd out of 96 nations (barely ahead of the Philippines!), according to the Fraser Institute’s newest survey released yesterday, though neighbor Saskatchewan proudly sits 4th behind Oklahoma, Texas and Kansas (thanks to Brad Wall)…
Former Premier Ralph Klein is rolling over in his grave as he looks at what Alberta has become under the mismanagement of the former Progressive Conservatives and now the NDP without one sharp business person in its entire caucus…of course Alberta’s troubles, as bad as they are, almost pale in comparison to the disaster that has unfolded in Ontario under an incompetent and corrupt long-term Liberal regime there, some of whom left to impose their wrong-headed ideas at the federal level…when will Canadians wake up to the fact that wealth is being destroyed across much of this country due to Big Government policy prescriptions, often shaped around radical globalist ideas regarding “climate change”?…this problem will likely become much more of a focus for Canadians if the U.S. economy, going in a very different direction than Canada’s under a Trump administration, starts to accelerate through tax cuts, deregulation, and a rejection of the overheated “save the planet” rhetoric that originated from the far left in Europe and spread like a cancer in North America…
In Today’s Morning Musings…
1. An undervalued Zinc-Copper play, starting to move, with $5 million in the bank and high-grade Gold exposure as well…
2. TSX Gold Index update – putting bull market volatility into an historical context…
3. Colorado Resources (CXO, TSX-V) expands into Nevada to complement flagship KSP Project in Heart of Gold Camp…
4. Daniel’s Den – more Uranium opportunities!…
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…
nice, ggi matches year high…
Comment by Laddy — December 7, 2016 @ 12:46 pm
GO GGI
Jeremy, are you trying to tell me that you are Patricia too!!!!!!
I heard that Manganese is going to be the next hot metal. Electric batteries oh boy. MN – it has paper just came out, so keep an eye on the selling and the chart.
Comment by dave — December 7, 2016 @ 1:18 pm
GGI looking real good, tomorrow’s AGM should be real interesting (I hope). Anyone here going?
Comment by Danny — December 7, 2016 @ 6:12 pm
GGI – went from buy to strong buy 100% on barcharts
Comment by dave — December 7, 2016 @ 6:31 pm
I don’t where someone got the idea that GGI’s AGM is tomorrow, Danny…I believe it’s the 14th…
Comment by Jon - BMR — December 7, 2016 @ 6:34 pm
Jon, you are correct, my error, I was looking at the date for another company (BHS), I apologize for the confusion.
Comment by Danny — December 7, 2016 @ 6:37 pm
Dave – yes sir… I am and am not… that is my wife.. again sir when I am not logged in it posts as her:) I can go either way.. depending!!! OK nuff of that!:) I am NOT that way .. she is my balance of life!!
sorry man.. hope I did wig you out:)!!!!
Comment by Jeremy — December 7, 2016 @ 7:39 pm
Jeremy, you’re scaring me when you say things like you can go either way!…lol….
Comment by Jon - BMR — December 7, 2016 @ 7:46 pm
Amazing day for CNZ today…a 47-cent or 24% correction intra-day but rallies and finishes up for a 6th straight day at $1.80…the Zeolite story in a broad sense is just starting to gain traction…
Comment by Jon - BMR — December 7, 2016 @ 7:49 pm
Jeremy – had me worried, lol. So you were the one who blasted me with the wine night on EQT. I put it out there at .07, hope you did not buy high. Heck, it ran to .22, thats a triple. Hope you did not lose. Yes, I agree though, turned out a bust and where is everyone now that was with EQT, long gone. I also talked about nf yesterday too when it was .125 to .13, however, .16 is a good entry. This one should do well. I encourage you to pick up the phone and call christina. Heck, I can’t even buy it. Cheers
Comment by dave — December 7, 2016 @ 7:51 pm
Jon .. have no fear… we have talked you know the tenor of my voice… I am one way only!!!! the only way that would change is if… well lets leave that for another post:) keep em wondering eh!:) !!!! OK NFW… I am one way only ….. nice vertical alignment eh!! UP!!!!!
Comment by Jeremy — December 7, 2016 @ 7:52 pm
CNZ – boy, did I leave profit on the table on that one by selling too early. I still think it has a shot at coming back to a buck though. Time will tell. Problem with the chart and the way its trading is you don’t know where to enter right now. Lets see if it comes back to earth.
Comment by dave — December 7, 2016 @ 7:55 pm
Looks like Fib. in the low $1.40’s is now the new support, Dave, and it came within about a nickel of that in today’s wild session. I have a feeling people are going to be chasing CNZ at significantly higher levels, that’s what almost always happens in a situation like this. Keep in mind that in a broad sense the Zeolite story is really only starting to gain traction.
Comment by Jon - BMR — December 7, 2016 @ 8:16 pm
Yes, I do confirm and like the tenor of your voice, Jeremy (don’t take that the wrong way!).
Comment by Jon - BMR — December 7, 2016 @ 8:20 pm
Yes, the support is $1.40, but it could break through that and come to a buck. Time will tell.
Comment by dave — December 7, 2016 @ 8:31 pm
Anything’s possible, Dave, but my thoughts are that a $23 million market cap ($1.00) doesn’t make sense for this…chances of it crossing $2 are better IMHO…
Comment by Jon - BMR — December 7, 2016 @ 8:34 pm
Speaking of CNZ, more news this morning—fascinating…
Mr. Ray Paquette reports
CANADIAN ZEOLITE REACHES AGREEMENT WITH ISODIOL TO RESEARCH AND DEVELOP ZEOLITIC INF– USED CONSUMER PRODUCTS
Canadian Zeolite Corp. has reached an agreement with Isodiol, a Southern California-based hemp cannabidiol (CBD) innovator. Canadian Zeolite will now be working with Isodiol to research and develop CBD- and zeolite-infused products and supplements intended for human and animal consumption.
In Isodiol’s state-of-the-art facilities in Southern California, the zeolite will be micronized maintaining its optimal cell structure to be combined with hemp-derived CBD and other adaptogenic herbs. This will then be infused into a complete line of products designed toward human consumption, including a full line of anti-aging skin care products, as well as products designed for animal consumption.
Isodiol’s Chief operating officer, Troy Nihart, stated: “Isodiol is looking forward to introducing these new products to the marketplace. Zeolite as an additive has tremendous potential especially with its detoxification properties. We feel there is an undiscovered zeolite market which we can develop and are very excited to begin a partnership with Canadian Zeolite.”
Ray Paquette, chief executive officer for Canadian Zeolite, stated: “We are looking forward to working with Isodiol, who is at the forefront of developing and marketing consumer-based CBD products. We are excited to implement our natural zeolite into Isodiol’s already successful product lines which will bring immediate value to our shareholders.”
About Canadian Zeolite
Canadian Zeolite is an environmentally friendly green tech business well suited to today’s economic environment. The company has a competitive advantage in the world of zeolites given its product has been tested, applied and exceeds the standards of specific markets. The company is working with dedicated global advisers recognized as leaders in zeolite use.
We seek Safe Harbor.
Comment by Jon - BMR — December 8, 2016 @ 6:30 am
CNZ – I know Jon, they keep pumping out the NR, but it is terribly overbought and you know the rules, buy low sell high. A correction would be healthy for the TA to breathe too.
Comment by dave — December 8, 2016 @ 7:07 am
Dave – sorry yes sir it was me…:( Jon- 🙂 and take it no other way than it was given sir:)
Comment by Jeremy — December 8, 2016 @ 7:08 am
GGI – the humpers from EQT bd are on it now. Do the humpers have a level to get it to for a financing? Was surprised that it wasn’t high closed at 16 last night. either way if they are joining the party now, they need to get it to 20 for a double. so we got a bit of a ride coming still
Comment by david — December 8, 2016 @ 7:09 am
There is going to be volatility in this play and that always presents opportunities, Dave…you make a valid point but yesterday’s action shows there are many waiting to accumulate on any significant weakness…that was an impressive session yesterday…
Comment by Jon - BMR — December 8, 2016 @ 7:41 am