HUGE 6.23 TONNES OF GOLD LEAVE THE GLD HEADING FOR SHANGHAI/NO CHANGE IN SILVER INVENTORY AT THE SLV/SHANGHAI PREMIUM OVER $26.00 PER OZ AT THE SGE GOLD FIX/ALMOST 70 BILLION USA LEAVES CHINA OFFICIALLY IN LAST REPORTING MONTH: CHINA REPORTS TROUBLE GETTING ACCESS TO DOLLARS TO PAY FOR DIVIDENDS ETC
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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