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1. Gold has traded between $1,335 and $1,346 so far today…as of 7:00 am Pacific, bullion is up $10 an ounce at $1,344…holdings of SPDR Gold Trust, the world’s largest Gold-backed ETF, rose 0.69% to 865.89 tonnes yesterday…that’s the highest level since June of last year, and a 3.5% increase in 2018, suggesting an increase in investor appetite for the metal…Silver has added 20 cents to $16.62…Copper up a penny to $3.09…Nickel has surged 13 cents to $6.33 while Zinc is steady at $1.41…Cobalt remains unchanged at $41.50…Crude Oil is up another 27 cents at $67.34 after closing at a new 3-year high yesterday, while the U.S. Dollar Index has climbed one-quarter of a point to 89.77…Bitcoin is up again today, trading at a 3-week high, as a new uptrend appears to be taking hold…total trading volume across all exchanges jumped above $8 billion yesterday, according to CoinMarketCap…

2. British Columbia Premier John Horgan and his dangerous job-killing, investment-killing coalition government is defiant on the Kinder Morgan pipeline issue entering a Sunday meeting featuring Horgan, Prime Minister Justin Trudeau and Alberta leader Rachel Notley.  “There’s nothing to stand down from,” Horgan boldly declared yesterday.  “We are in court.  We are going to stay in court.  I will defend to the end the rights of British Columbia to stand up and defend our coast.  The interests of Canada have to be front and center but we have different views of what these interests are.”  If Notley follows through on her threat to reduce the Oil and gas flows from Alberta to B.C. in the coming weeks, in order to put additional pressure on the B.C. government to stop its unconstitutional action aimed at blocking the already approved pipeline expansion, B.C. residents will face skyrocketing prices at the gas pumps – economic reality will suddenly set in, the masses will revolt and the tenuous NDP-Green coalition government could potentially collapse as a result, forcing the province into a much-needed new election…

3. The B.C. business community has had enough – it is now rising up against the insane attempt by climate change fanatics and the loony left to kill the Kinder Morgan pipeline expansion…at a news conference yesterday in Vancouver, members of the B.C. business community called on the federal government to step in and end the uncertainty surrounding the pipeline.  “We’re here today because the organizations and individuals in communities and businesses across this country believe we are at a point or crisis of confidence in Canada.  A crisis that needs leadership and immediate attention to resolve,” said Greg D’Avignon, the President and CEO of the Business Council of British Columbia.  “Over the last 48 hours, we have experienced an unprecedented flood of concern and countrywide activism born by the continued actions of the province of B.C. with regard to the recent announcement to suspend all non-essential spending on the federally and provincially-approved Trans Mountain Pipeline Project.  This is no longer about a pipeline, but a referendum to see if you can rely on government process, regulations and the rule of law with any degree of confidence if you choose to invest, create jobs and prosperity in British Columbia and our country.”

4. The U.S. earnings season kicked off this morning with JPMorgan, Citi Group and Wells Fargo all reporting better-than-expected results, giving equities another boost…the biggest factor that will drive earnings this quarter is the Trump tax cuts passed in December which took effect in January…economists’ expectations for the Q1 earnings season is relatively high…according to FactSet, earnings growth for the S&P 500 is expected to increase 17.1%, the highest earnings growth since Q1 2011…meanwhile, most governments in Canada, federal and provincial, seem completely oblivious to the fact that competitive corporate tax rates in the U.S. and other policy choices on both sides of the border are responsible for capital leaving Canada at an accelerating rate to its southern neighbor, particularly in the beleaguered energy sector…direct investment in Canada is collapsing…non-residents bought just $5.68 billion in Canadian securities in January, according to figures released late last month…that marked a sharp decline from the monthly average of $18.4 billion seen between July and November 2017…never has it been more important for our economic well being to drain, as quickly as possible, the political swamp in Canada which features such incompetent governments from one corner of the country to another…Kevin O’Leary says it best, however:  “The thing about money is that it has no political affiliation.  It doesn’t care.  It looks to the path of least resistance, and that path is no longer in Canada.”

5. Oil prices are headed for their largest weekly gain since July following President Trump’s comments about possible military action in Syria and reports of dwindling global Oil stocks…both benchmarks (WTI and Brent) have hit their best levels since late 2014 after Trump warned that missiles “will be coming” in response to a suspected gas attack in Syria and after Saudi Arabia said it intercepted missiles over Riyadh…meanwhile, a global Oil stocks surplus is close to evaporating, OPEC said yesterday, adding that its collective output fell to 31.96 million barrels per day (bpd) in March, down 201,000 bpd from February…OPEC and its Oil producer allies are poised to extend their supply reduction pact into 2019 even as the global glut of Crude looks set to be eradicated by September, OPEC Secretary-General Mohammad Barkindo told Reuters…

6. The Dow is up 45 points through the first 30 minutes of trading…U.S. consumer sentiment fell slightly more than expected to 97.8 in April after recording its highest level (101.4) in 14 years in March…in Toronto, the TSX is up 8 points…Aurora Cannabis (ACB, TSX) has successfully delivered the first-ever batch of privately exported medical cannabis from Canada to the Italian government through its wholly owned German subsidiary Pedanios GmbH…following the successful delivery, the products have now been distributed to Italian pharmacies…today’s announcement follows the news January 18, 2018, from Aurora that it had won a highly competitive European Union-wide public tender to supply 100 kilograms of medical cannabis to the Italian government through the Italian Ministry of Defense, which oversees medical cannabis production and distribution in Italy…the Venture has added 5 points to 787 as of 7:00 am Pacific…nearest resistance is in the low 790’s…

7. Global economic growth helped lift industrial demand for Silver last year for the first time since 2013 but it also may have contributed to a steep drop in investment demand for the metal, according to a report from The Silver Institute released yesterday…industrial demand for Silver, which has industrial as well as a precious metal characteristics, grew by 4% to 599 million ounces in 2017, according to a report produced for The Silver Institute by the GFMS team at Thomson Reuters…record photovoltaic growth (mostly from China) fed the rise in industrial demand, climbing 19% in 2017 to 94.1 million ounces, on the back of a 24% rise in global solar-panel installations…solar has been the darling of the Silver industry…however, investment demand, which consists of physical bar investment and coins and medals purchased, as well as net changes to exchange-traded product holdings, dropped by 40% from 2016 to 153.5 million ounces which helps explain why the Silver price has been struggling…investment sentiment needs to improve…the historically high Gold-Silver ratio, currently 81, bodes well for some strength in Silver during the 2nd half of the year…

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