harveyorganblog.com / by harveyorgan / November 15, 2016
Gold closed at $1224.00 up $2.80
silver closed at $17.03: up $0.15
Access market prices:
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 Nov 15 (10:15 pm est last night): $ 1235.74
NY ACCESS PRICE: $1225.20 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1236.97
NY ACCESS PRICE: 1227.90 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD TODAY!! 9.00 dollars
London Fix: Nov 15: 5:30 am est: $1228.90 (NY: same time: $1224.90 5:30AM)???
London Second fix Nov 15: 11 am est: $1226.95 (NY same time: $1226.95, 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.
The post NOV 15/SPREAD BETWEEN SHANGHAI FIX AND NY PRICE: $9.00/AMOUNT STANDING FOR GOLD RISES TO OVER 5 TONNES FOR NOVEMBER/OFFSHORE YUAN CRASHES AGAIN TO OVER 6.855/SAUDI ARABIA WARNS TRUMP NOT TO BLOCK SAUDI IMPORTS OF OIL/GEORGE SOROS BACK INTO THE GOLD BUSINESS AS HE DOUBLES HIS STAKE IN BARRICK GOLD/ appeared first on Silver For The People.