FRIDAY’S COMMENTARY NOW COMPLETE: NOTE HUGE 19.87 TONNES LEAVES GLD AND 949,000 OZ LEAVES SLV/ALSO 8.99 TONNES OF GOLD STANDING FOR NOVEMBER/OIL FALLS BADLY AT THE CLOSE/EU SUSPENDS TURKEY’S APPLICATION INTO THE EU AND ERDOGAN THROW A TEMPER TANTRUM/MORE DEVASTATION IN INDIA BUT THEY WILL NOT RESTRICT INDIVIDUAL GOLD HOLDINGS/
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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