Home > Dec 2017 > Dec 27, 2017 Gold pushes up

Dec 27, 2017 Gold pushes up

December 27th, 2017

Yawn, Futures are flat in the first hour of the europe session. Pending Homes and consumer confidence for the US econ news.  Shanghai Futures had copper only up slightly after the rally yesterday. PBoC makes it four days in a row that it is not adding liquidity through Open Market Operations, they feel there is enough liquidity out there thru the end of the year. Cypto is a little up over 16,000.

Dec 2017

  • panther341

    So going into Houston – in Sealy (which is like 60 miles outside of Houston to the West) in what used to be open field (rice paddy!) suddenly there was an oil storage tank farm – the really huge tanks, not just little local tanks. There were 8 but it looks like a construction site. No names on the sides of the tanks.

    Did research when I got home. Enterprise building a 24 inch oil pipeline (450,000 barrels per day!) from Midland to Sealy. https://www.genscape.com/blog/enterprise-midland-sealy-pipeline-progressing-could-face-significant-delays Exciting if you are trying to market oil out of Midland I guess, but there is a brand new tank farm in Sealy now. Enterprise issued a press release in July saying they expected the pipeline to be operational by the 4th quarter 2017. http://www.enterpriseproducts.com/investors/news-releases?c=80547&p=RssLanding&cat=news&id=2284599
    I have not seen a press release saying the darned thing is
    actually working yet – and I went to the company’s website and their official
    press releases. Harvey may have had some impact.

    Anyway – if they are going to be moving 450,000 barrels per day – 8 tanks that size probably hold well over 150,000 barrels each – so I am guessing there might be more storage tanks going in to that tank farm. You don’t fill tanks full because of expansion in summer heat.

    Less rice. More oil storage. OPEC is not happy.

  • panther341

    Still hoping y’all get some rain – mebbe for New Years.

  • panther341

    copper not the only thing going up. Check AA. More straight up than FCX.

  • panther341

    today’s speculative stock of the day – WATT. LOL They have a real product which benefited from an FCC ruling yesterday. $8 stock on Tuesday. $30 today.

  • panther341

    So I will be scarce on Friday – getting ready for the weekend and doing year end kinds of things as well. Which in my case means going through and seeing how much I can shred of old tax records. OMG Moving less stuff is a good thing.

  • panther341

    Happy New Year TN and southern!

  • Trading_Nymph

    HAPPY NEW YEAR PANTHER!!!! HAPPY NEW YEAR SOUTHERN!!! ILY BOTH SO MUCH!!!

  • Trading_Nymph

    HAPPY 2018 EVERYONE. MAY IT BE THE YEAR OF THE CHINA BEAR, lol.

  • Trading_Nymph

    Firepit is way more fun then shredding lol imho.

  • Trading_Nymph

    Copper got that pop from China saying they are officially slowing production due to pollution again. But IP missed…china imho is so slowing, I hope, lol.

  • Trading_Nymph

    From your lips to gods ear. We need RAIN so bad. But ouch for the Nor Easter….Panther, Southern stay warm!!!

  • Trading_Nymph

    Such a glut, ouch. They really don’t know where to put it.

  • panther341

    Hi TN – we have ice on the roads here – something we are not able to handle. But just freezing drizzle – not real rain. And on a party night no less. I am staying home!

    Happy New Year!

  • panther341

    Back to the normal avatar.