SHANGHAI GOLD FIX SPREADS TODAY ARE NORTH OF 28 DOLLARS AND 26 DOLLARS/CHINAHAS RISING BOND YIELDS WHICH WE MUST WATCH AS THIS WOULD HURT GLOBAL GROWTH FURTHER/ITALIAN VOTE ON SUNDAY AND MOST LIKELY 8 ITALIAN BANKS IN SERIOUS TROUBLE/OIL TUMBLES ON LITTLE CHANCE OF A CUT IN PRODUCTION BY OPEC
from Harvey Organ:
It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.
Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.
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