SHANGHAI GOLD FIX STILL $25 DOLLAR PREMIUM TO NY PRICING/GLD AND SLV INVENTORIES HOLD CONSTANT/CHINA FINALLY TELLS THE WORLD THAT GLOBAL DEMAND IS WEAK AS THEY CUT WAGES
from Harvey Organ:
THE HUGE DALLAS POLICE AND FIREFIGHTERS PENSION FUND SEEMS TO BE HEADING TO BANKRUPTCY COURT/USA TRADE DEFICIT COMES IN WORSE THAN EXPECTED AT -42 BILLION DOLLARS: EXPECT A CUT IN GDP GROWTH IN 4THQ
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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