harveyorganblog.com / by harveyorgan / November 2, 2016
Gold closed at $1306.40 up $20.40
silver closed at $18.66 or up 47 cents.
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 2 (10:15 pm est last night): $ 1294.53
NY ACCESS PRICE: $1289.70 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1296.08
NY ACCESS PRICE: 1291.70 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD TODAY!! 4 dollars
London Fix: Nov 2: 5:30 am est: $1295.85 (NY: same time: $1296.10: 5:30AM)
London Second fix Nov 2: 10 am est: $1303.75 (NY same time: $1301.75 , 10 AM)
Shanghai premium in silver over NY: 59 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 NOV 2/FIVE INVESTIGATIONS UNDERGOING BY THE FBI ON CLINTON, THE CLINTON FOUNDATION AND INNER CIRCLE/TRUMP SURPASSES CLINTON IN THE POLLS/DEUTSCHE BANK STOCK PLUMMETS AGAIN/DB’S CHIEF ECONOMIST BLASTS THE ECB AGAIN: THEY MUST BE HURTING!/569,000 OZ ADDED TO THE SLV/2.67 TONNES ADDED TO THE GLD/ appeared first on Silver For The People.