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Gold has traded between $1,177 and $1,199 so far today…as of 11:25 am Pacific, bullion is up $5 an ounce at $1,192…Silver, after nearing $17, has retreated 5 cents to $16.70…Copper is down 3 pennies to $2.67…Nickel has tumbled 19 cents to $4.59…Crude Oil has recovered $1.69 a barrel to $52.51 while the U.S. Dollar Index touched 103 this morning but promptly sold off…it’s now down more than one-third of a point at 100.67…

Gold firmed up, bouncing off its lows, while the Dollar Index plunged three-quarters of a point during President-elect Donald Trump’s first news conference in more than 5 months this morning…one of the most entertaining moments was a Trump “slam down” of CNN as he refused a reporter’s question, saying, “You are fake news”…CNN  later published a response on its website…

Positive for Gold and the Venture – the greenback appears “tired” after a huge run since last summer and we’ll show why in an updated chart as part of today’s Morning Musings…the Venture’s move above key resistance at 784 coincides with the greenback’s loss of momentum…that’s a key point to understand in terms of evaluating how the rest of January and February may unfold for the Venture…

So far this month, Gold has behaved in line with historical trends according to John’s seasonality charts…over the past 20 years January has been Gold’s second-best month (behind September) with an average return of 2.3%…

“With the impending inauguration of President-elect Donald Trump and possible safe-haven flows related to that, seasonal Chinese demand and a stalling equity rally and bond sell-off, January so far is poised to be another good month for the yellow metal,” according to MKS (Switzerland)…

Meanwhile, getting back to Trump’s much-anticipated news conference, health care and biotech stocks took a hit after the President-elect made these comments:  “We have to get our drug industry coming back. Our drug industry has been disastrous, they’re leaving left and right. They supply our drugs but they don’t make them here, to a large extent.  And the other thing we have to do is create new bidding procedures for the drug industry, because they’re getting away with murder.”

Oil Haters Continue To Intimidate Canadians

When will naïve government officials and others in Canada come to the realization that there is “no compromise” possible with the anti-Oil lobby that’s ramping up efforts to block or further delay critical Canadian projects that must urgently proceed…nothing will satisfy them in terms of environmental protections or “carbon taxes”, so all the talk of a gaining a “social license” for these projects is government bafflegab…yesterday, Jane Fonda was in the Oilsands to stir up fresh agitation against new pipelines supported by Alberta’s NDP government and approved by Liberal Prime Minister Justin Trudeau…more aboriginal lawsuits are being launched in Vancouver over Trudeau’s approval of the Petronas LNG Project…and in Toronto, environmental activists were scoffing at Trudeau’s efforts to reform the National Energy Board…

“Canada’s recent approval of new tar sands projects in Alberta and the Line 3 and Kinder Morgan pipelines, and the looming possibilities of a Keystone XL and Energy East, are in direct conflict with Canada’s commitments to Indigenous Rights, the U.N. Declaration on the Rights of Indigenous Peoples (UNDRIP), and the Paris climate accord,” organizers of Fonda’s event said in a news release (they are proud “globalists”).  “That is the message First Nation leaders and Indigenous advocate and Academy Award winning actress Jane Fonda will bring to a press conference in Edmonton.”

The Financial Post’s Claudia Cattenea correctly observed, “Clearly, the honeymoon is over between opponents of Oil and gas projects and Canadian governments that hoped to win their approval by cranking up environmental regulations and carbon costs, even at the expense of the economy (our emphasis).  So much for Canada’s ambitious climate leadership program, sold to Canadians on the promise that it would satisfy critics and re-habilitate Canada’s reputation as a responsible energy producer.”

Canada’s fixation on “saving the planet” now has us losing competitiveness in the energy sector to the United States, China, Russia and others – exactly what the anti-Oil lobby wanted to see and Canadians fell for it…

In Today’s Morning Musings…

1. Zealous for Zeolite:  Canadian Zeolite (CNZ, TSX-V) Update…

2. Low-priced B.C. exploration opportunity…

3. Enphase Energy finds power, jumps nearly 25%…

4. Daniel’s Den – ObamaCare or no ObamaCare, Teladoc is a winner…

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…