Oct 21/Almost 29 Tonnes of Gold Standing in October: The Highest Ever Recorded in History for the October Delivery Month
A Monstrous 16.61 Tonnes of Gold Withdrawal From Gld
A Montrous Deposit of 3.226 Million Oz into the Slv
Huge Devaluation for the Chinese Yuan: China Sends its Message to the USA Not to Raise Rates in December
A Monstrous 78 Billion USA Fx Leaves China In September
Canada Walks Out of the European Trade Talks and That Should Spell the End of Tpp as Well
Heavily Arms Guards Lining up Outside the Ecuadorian Embassy Waiting for the Word to Capture/kill Assange!/
harveyorganblog.com / by harveyorgan / October 21, 2016
Gold $1265.90 up $0.30
Silver 17.45 DOWN 5 cents
In the access market 5:15 pm
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 OCT 21 (10:15 pm est last night): $ 1267.78
NY ACCESS PRICE: $1264.25 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1269.33
NY ACCESS PRICE: 1264.60 (AT THE EXACT SAME TIME)
HUGE SPREAD TODAY!! 5 dollars
London Fix: OCT 21: 5:30 am est: $1263.95 (NY: same time: $1264.20: 5:30AM)
London Second fix OCT 20: 10 am est: $1266.05 (NY same time: $1266.35 , 10 AM)
Shanghai premium in silver over NY: 87 cents.
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.
The post OCT 21/ALMOST 29 TONNES OF GOLD STANDING IN OCTOBER: THE HIGHEST EVER RECORDED IN HISTORY FOR THE OCTOBER DELIVERY MONTH/A MONSTROUS 16.61 TONNES OF GOLD WITHDRAWAL FROM GLD/A MONTROUS DEPOSIT OF 3.226 MILLION OZ INTO THE SLV/HUGE DEVALUATION FOR THE CHINESE YUAN: CHINA SENDS ITS MESSAGE TO THE USA NOT TO RAISE RATES IN DECEMBER/A MONSTROUS 78 BILLION USA FX LEAVES CHINA IN SEPTEMBER/CANADA WALKS OUT OF THE EUROPEAN TRADE TALKS AND THAT SHOULD SPELL THE END OF TPP AS WELL/ HEAVILY ARMS GUARDS LINING UP OUTSIDE THE ECUADORIAN EMBASSY WAITING FOR THE WORD TO CAPTURE/KILL ASSANGE!/ appeared first on Silver For The People.