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Gold has traded between $1,225 and $1,232 so far today…as of 11:15 am Pacific, the yellow metal is up $3 an ounce at $1,229…Silver is 8 cents higher at $17.37…Copper is unchanged at $2.68…Nickel is up 3 cents at $4.67…Crude Oil is steady at $48.80 while the U.S. Dollar Index, headed for one of its biggest weekly losses over the past 6 months, is down slightly at 100.23…

The combination of the Federal Reserve not signaling an acceleration of normalization, and perceptions that the European Central Bank and the Bank of England can raise rates earlier than anticipated, has weighed on the greenback this week and that has allowed commodities and the Venture to rebound…the Venture is currently battling resistance around its 50-day moving average (SMA) where it backed off from this morning…

Finance leaders from the G-20 are meeting today and tomorrow in Germany, the first G-20 meeting since the U.S. elections…

Silver prices are up nearly 10% for the year to date, and the Silver Institute says this is largely due to improving sentiment toward the precious metal among institutional investors…changing expectations regarding the outlook for U.S. interest rates and the proliferation of negative policy rates across other key reserve currencies has rekindled institutional investor interest in precious metals, according to the Silver Institute…an improvement in Silver industrial offtake is also helping, the organization says…these factors have fueled investment inflows into Silver futures, options, ETF products and over-the-counter products. “We expect that the factors that buoyed institutional Silver investment over much of 2016, and have carried over into the early months of 2017, will remain relevant for the remainder of this year,” said Michael DiRienzo, executive director of the Silver Institute…

Oil prices will finish the week with a modest gain after losing almost 10% last week on concerns that an OPEC production cut was failing to reduce a global supply overhang…as we mentioned in 7 @ 7:00 this morning, though, the media has been ignoring the demand side of the equation and that’s where some positive surprises could emerge to prevent Crude from falling below critical support around $46 a barrel…

The Baker Hughes weekly rig count is just out – it rose by 14 Oil rigs to a total of 631, continuing a recovery that began in June…at this time last year, drillers were operating 387 Oil rigs in U.S. fields…

In Today’s Morning Musings…

1. Gold’s path to $1,300…

2. An emerging leader in northern Ontario’s Greater Cobalt Camp…

3. Follow the VEIN!…

4. Daniel’s Den – opportunities in the Yukon’s Dawson Range Gold Belt…

Click here to receive, via email, BMR’s “Who’s Who” List of the Greater Cobalt Camp – the top dozen or so companies active in the district.

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