Our pick last week, Farmmi Inc. (NASDAQ: FAMI), went from US$0.36 on Monday, to a high of US$0.42 on Friday (up 16.7%).

Companies in our Top Picks list were up 41.6% on average since we initiated coverage vs 0.8% for the benchmark (TSXV).

The IMF has lowered its 2021 global GDP growth forecast from 6.0% to 5.9% (amid supply chain issues and weaker consumption in Q3), while maintaining its 2022 forecast at 4.9%. They also lowered their U.S. GDP growth forecast from 7.0% to 6.0%.

We believe this weakness will prompt the Fed to delay rate hikes, even though rising inflation is becoming a major concern for both investors and consumers. As we expect inflation to remain high through the end of this year, we are maintaining our positive outlook on gold prices.

Valuations of gold producers were up 9% WoW; base metals producers were up 5%.

Globally, 47.59% have received at least one dose, up 1.9 ppt WoW vs 1.2 ppt the same time last week.

The average retail price per gram fell week-over-week from $11.08 to $11.07.

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Companies Mentioned:

Panoro Minerals Ltd., Aurcana Silver Corporation, Colibri Resource, Cora Gold Limited ,Tudor Gold Corp., Azure Minerals Limited, Grid Metals Corp., K9 Gold Corp., Kootenay Silver Inc., Quaterra Resources Inc., Renforth Resources Inc., Steppe Gold Limited, Equity Metals Corporation, Tartisan Nickel Corporation, BIGG Digital Assets Inc., Oculus VisionTech, Inc.,Lexaria Bioscience Corp., Hello Pal International Inc., Pure Extracts Technologies Corp., Ayurcann Holdings Corp., THC BioMed Intl Ltd., Chalice Brands Ltd., Fiore Cannabis Ltd.