LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Ira Epstein's Precious Metals Video: Dec-27-2017


 -- Published: Wednesday, 27 December 2017 | Print  | Disqus 

By: Ira Epstein
Metals continue to extend their year-end rally
 

Commentary for 12-26-17 at 8:02pm

US Nat'l Assoc of Realtors (NAR) November pending home sales data will be released Wednesday morning at 9:00 am CST.  Analysts expect the month over month figure -0.5% from the previous month.

Libya's military reported today that armed men had planted explosives at the pipeline pipeline feeding Es Sider port. This pipeline carries approximately 90.000 barrels of oil daily to the port.  The Forties pipeline that's been shutdown in U.K. is reportedly being tested and should start operations in early January. However, at this point, the combined loss from these two pipeline of approximately 550,000 barrels a day is for the time being friendly to oil prices. OPEC in a new assessment expects the oil market to get in balance in the first half of 2018, possibly the first quarter of the year. INEOS, the operator of the Forties pipeline, said they are partially restarting their Kinneil facility. Expect a very gradual increase in oil flow as they slowly and carefully bring the pipeline back on stream. If it weren't for the attack in Libya, the news of Kinneil coming back online would be taken as a bearish factor.

Russia's Foreign Minister Sergei Lavrov on Monday called for Washington and Pyongyang to start negotiations, saying Russia was ready to facilitate such talks. He reiterated such again today. Standing in the way is President Trump's demand that Pyongyang must commit to giving up its nuclear weapons before any talks can begin. I'd rate the odds of this demand being met at zero. In the end, we'll likely end up speaking with North Korea without their giving up their nuclear arsenal. Another missile test however will make me change my mind. Unlike previous Presidency's I don't see President Trump throwing money at North Korea to "buy" suspension of Pyongyang's nuclear program. Rather, lifting of sanctions might be what President Trump brings to the table sometime down the road. If I read his Presidency right, he'll let others "buy" the peace if peace is to be had.

Here's something interesting concerning the blockchain technology behind cryptocurrencies. Reign Sapphire Corporation, a dealer in sapphires, announced that they will use blockchain technology to keep records of the attributes of each each sapphire they deal with including the color, carat, and certificate number.  Blockchain technology is going to become a "norm" in many industries as once data about a product is entered, tracking the history of that product becomes easy. I see this usage possibly moving to many aspects of the stone and jewelry business. 

There won't be a lot to write about in front of New Year's Eve. I will do my best to keep my comments to the point.


| Digg This Article
 -- Published: Wednesday, 27 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.