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1. Gold has traded between $1,211 and $1,226 so far today, hitting a new 52-week low…as of 7:00 am Pacific, bullion is down $11 an ounce at $1,217…Silver has retreated 29 cents to $15.23…Copper is off 6 cents at $2.72, Nickel is 13 cents lower at $6.02 while Zinc has slipped 2 pennies to $1.17…Cobalt is bucking the trend, up 91 cents to $31.75…Crude Oil is also higher, gaining 81 cents to $69.57…Saudi Arabia’s OPEC governor said today that the kingdom won’t export much more Oil in July than it did last month…OPEC and non-OPEC producers cut Oil output in June by 20% more than agreed levels, compared with 47% in May, according to a Reuters report…the U.S. Dollar Index is off slightly at 95.04 after touching 95.40 earlier in the day…

2. The Conference Board’s Leading Economic Index increased half a percent in June, beating expectations, marking the 8th straight month of gains for the Index…“The U.S. LEI increased in June, pointing to continuing solid growth in the U.S. economy,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board.  “The widespread growth in leading indicators, with the exception of housing permits which declined once again, does not suggest any considerable growth slowdown in the short-term”…in other economic data released this morning, the number of Americans claiming new unemployment benefits fell last week to the lowest level in nearly half a century…

3. Big news from an innvovative Vancouver-based technology company this morning:  Torino Power Solutions (TPS, CSE) has announced that it has entered into an MOU with SICAME, a French-based world leader in the manufacturing of components, equipment and services for transmission and distribution electrical networks…Torino and SICAME will collaborate in Internet of Things technology sensor development, attracting utility clients and advancing Power Line Monitoring product…upon successful outcomes of testing and review over the course of this summer, the MOU contemplates the parties entering into a definitive agreement for a mutually beneficial business transaction that could involve technology licensing, equity purchase/investment or some other transaction…Torino’s patented microwave cavity sensor technology delivers real-time temperature measurements of overhead power lines that allow for increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination…Torino sensors, assembled by a group of engineers at a facility in Burnaby, can be deployed quickly and begin transmitting real-time data to the utility almost immediately…Rav Mlait, CEO of Torino, stated:  “This emerging relationship with SICAME is an important and major step in the development and growth of our business.  It has been a core belief of Torino that sensors are at the heart of IOT strategies.  SICAME is developing an impressive IOT technology platform for utilities and smart grid adoption across Europe and elsewhere.  We are very pleased to work with SICAME on several fronts to eventually capture business opportunities globally”…TPS, which has just 46 million shares outstanding, is up 4 pennies at 16 cents through the first 30 minutes of trading…

4. The Dow has retreated 137 points through the first 30 minutes of trading…just over 13% of S&P 500 companies have reported calendar Q2 earnings thus far, with 85.1% of those firms surpassing analysts’ expectations…for the next few weeks, earnings could become a major driving force of the market…in Toronto, the TSX is up 42 points as of 7:00 am Pacific…the TSX Gold Index is holding steady near 190 despite Gold’s new 52-week low this morning…the Gold Index is actually up slightly since June 1…Costco customers in Southern Ontario can now get groceries from the general retailer delivered directly to their doorsteps…Costco Wholesale (COST, NASDAQ) announced yesterday that it started selling groceries online for the first time in Canada, following its top rivals as supermarkets prepare for Amazon.com’s entry into the grocery market…Costco previously launched an online shopping service in the United States…the Venture is holding up well in early trading, down just 2 points at 715, despite another drop in metal prices…

5. Chemesis International (CSI, CSE), a new cannabis deal that started trading on the CSE yesterday, announced this morning that it has increased its ownership stake in SAP Global from 51% to 80%…SAP is a California corporation that controls legal cultivation and manufacturing licenses for the new state-of-the-art facility where the company will manufacture and distribute medical and recreational tetrahydrocannabinol and cannabidiol products for the California market…with recreational cannabis legal in California, SAP’s flagship facility and operations strategically located in Cathedral City have the legal standing necessary to meet the California medical and recreational application requirements, which in turn will facilitate the sale of over-the-counter and holistic cannabis products…SAP is able to process up to 2,000 lbs of agricultural trim and yield as much as 200 lbs of clean, compliant cannabis oil per day…this capacity is intended to provide Chemesis with a consistent revenue stream with products that are essential to the industry and cater to both the medical and recreational cannabis markets in California…to increase its ownership of SAP to 80%, the company committed and paid an additional $700,000 CDN toward additional capital expenditures at the flagship facility…CSI has also announced the acquisition of the California Sap brand and product catalogue, which includes the effective and easy-to-use cannabis oil Gramqul and Vape Cartridges, for $500,000 (U.S.) in stock at a deemed price of $1.00 CDN per share…the stock is subject to a 36-month lock-up/leak-out…

6. Pack up and go home:  Pipeline protesters camping on Burnaby Mountain say they are gearing up for a legal battle after being slapped with an eviction and bylaw notice yesterday and given 3 days to leave…the City of Burnaby ordered the occupants of the “Camp Cloud” protest site at to immediately remove all structures, trailers and vehicles, as well as put out fires, tear down a shower and leash their dogs…officials warned the protesters to cease their “unauthorized occupation and use” of city lands within 72 hours or face city action to remove the camp…the protest camp started last November with a single trailer parked at Kinder Morgan’s Westridge Marine Terminal on Burrard Inlet, but was moved in December to the street outside the tank farm’s gates, where it has grown into dozens of tents, trailers and buildings, including a two-level wood structure…Kwitsel Tatel, court monitor at the camp, dismissed the city order as “illegitimate” Wednesday and said that protesters would stand their ground…meanwhile, in a report Tuesday, consultancy firm IHS Markit lowered its forecast for Oilsands production compared to its 2017 estimate, largely due to delays in building pipelines…it said further delays could continue to tamp down output as major Oilsands players defer project expansions…

7. A South Korean salvage team has reportedly discovered the wreck of a Russian warship that is believed to still contain 200 tons of Gold bullion and coins worth 150 trillion won ($130 billion U.S.)…the Russian Imperial Navy cruiser Dmitrii Donskoi, which was sunk in a naval battle 113 years ago, was discovered at a depth of more than 1,400 feet about 1 mile off the South Korean island of Ulleungdo, according to The Daily Telegraph…the U.K. newspaper reported that a joint team made up of experts from South Korea, Britain and Canada discovered the wreck last weekend…they had used two manned submersibles to capture footage of the vessel…the images caught by the submersibles show “extensive damage to the vessel caused in an encounter with Japanese warships in May 1905, along with cannons and deck guns encrusted with marine growth, the anchor and the ship’s wheel,” the Telegraph reported…there are reports that the Dmitrii Donskoi, which was scuttled during the Russo-Japanese war in 1905, went down with 5,500 boxes of Gold bars and coins still in its holds to stop the Japanese seizing it…

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