Sept 29 /bank Run At Deutsche Bank/db Stock Falters Badly/the 2nd Largest German Bank Commerzbank Suspends Dividend And Fires 20% Of Workforce/huge Liquidity Problem In Europe Due To Scarcity Of Dollars As Derivatives Blow Up Over There/usa’s Kerry Issues The Russian An Ultimatum To Stop Bombing Aleppo Or Else../huge Problems In The Saudi Kingdom As The Riyal Collapses And Scarcity Of Dollars Over There As Well/at The Comex Another Huge Amount Of Gold Leaves/

harveyorganblog.com / by harveyorgan / September 29, 2016

Gold $1321.70 up $2.30

Silver 19.12 up 8 cents

In the access market 5:15 pm

Gold: 1320.75

Silver: 19.08

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Sept 29 (10:15 pm est last night): $ 1329.99

NY ACCESS PRICE: $1324.25 (AT THE EXACT SAME TIME)

Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1326.88

NY ACCESS PRICE: 1322.00 (AT THE EXACT SAME TIME)

HUGE SPREAD TODAY!!

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London Fix: Sept 29: 5:30 am est: $1320.85 (NY: same time: $1321.75: 5:30AM)

London Second fix Sept 16: 10 am est: $1318.10 (NY same time: $1319.60 , 10 AM)

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.

end

For comex gold:The front September contract month we had 6 notices filed for 600 oz

For silver: the front month of September we have a total of 468 notices filed for 2,340,000 oz

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Let us have a look at the data for today

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The post SEPT 29 /BANK RUN AT DEUTSCHE BANK/DB STOCK FALTERS BADLY/THE 2ND LARGEST GERMAN BANK COMMERZBANK SUSPENDS DIVIDEND AND FIRES 20% OF WORKFORCE/HUGE LIQUIDITY PROBLEM IN EUROPE DUE TO SCARCITY OF DOLLARS AS DERIVATIVES BLOW UP OVER THERE/USA’S KERRY ISSUES THE RUSSIAN AN ULTIMATUM TO STOP BOMBING ALEPPO OR ELSE../HUGE PROBLEMS IN THE SAUDI KINGDOM AS THE RIYAL COLLAPSES AND SCARCITY OF DOLLARS OVER THERE AS WELL/AT THE COMEX ANOTHER HUGE AMOUNT OF GOLD LEAVES/ appeared first on Silver For The People.