Oct 26/China Sells 34 Billion USA of Treasuries Last Month/
China Purchases 87 Billion Dollars Worth of Japanese Sovereigns/
China’s Banks Have Almost 30 Trillion Equiv. USA Liabilities on Their Books With 15 To 20% Non Performing/
Funds Are Fleeing Deutsche Bank/
Bank of England Asks UK Banks Their Exposure to Deutsche Bank and Italian Banks/
Huge 14.24 Tonnes of “paper Gold” Removed From Gld and Used in the Attack On Gold Today/
No Silver Leaves the Slv/
Significant Drill Holes and Huge Earnings From Agnico Eagle/
harveyorganblog.com / by harveyorgan / October 26, 2016
Gold $1264.80 down $7.10
Silver 17.59 down 15 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 26 (10:15 pm est last night): $ 1279.91
NY ACCESS PRICE: $1275.30 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1278.98
NY ACCESS PRICE: 1273.60 (AT THE EXACT SAME TIME)
HUGE SPREAD TODAY!! 5 dollars
London Fix: OCT 26: 5:30 am est: $1274.10 (NY: same time: $1274.10: 5:30AM)
London Second fix OCT 24: 10 am est: $1272.30 (NY same time: $1272.30 , 10 AM)
Shanghai premium in silver over NY: 80 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 26/CHINA SELLS 34 BILLION USA OF TREASURIES LAST MONTH/CHINA PURCHASES 87 BILLION DOLLARS WORTH OF JAPANESE SOVEREIGNS/CHINA’S BANKS HAVE ALMOST 30 TRILLION EQUIV. USA LIABILITIES ON THEIR BOOKS WITH 15 TO 20% NON PERFORMING/FUNDS ARE FLEEING DEUTSCHE BANK/BANK OF ENGLAND ASKS UK BANKS THEIR EXPOSURE TO DEUTSCHE BANK AND ITALIAN BANKS/HUGE 14.24 TONNES OF “PAPER GOLD” REMOVED FROM GLD AND USED IN THE ATTACK ON GOLD TODAY/NO SILVER LEAVES THE SLV/SIGNIFICANT DRILL HOLES AND HUGE EARNINGS FROM AGNICO EAGLE/ appeared first on Silver For The People.