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Gold at (1:30 am est) $1202.90 UP $7.60
silver at $16.81: UP 9 CENTS
Access market prices:
THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON
The Shanghai fix is at 10:15 pm est last night and 2:15 am est early this morning
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:
MONDAY gold fix Shanghai
Shanghai FIRST morning fix Jan 16/17 (10:15 pm est last night): $ 1219.16
NY ACCESS PRICE: $1202.00 (AT THE EXACT SAME TIME)/premium $17.16
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1219.16
NY ACCESS PRICE: $1205.80 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $13.36
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
London Fix: Jan 16/2017: 5:30 am est: $1202.75 (NY: same time: $1202.70 (5:30AM)
London Second fix Jan 16.2017: 10 am est: $1203.00 (NY same time: $1103.00 (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.
The post JAN 16/MARTIN LUTHER KING HOLIDAY SPECIAL REPORT/GOLD TRADING IN EUROPE/TRUMP TAKES ON MERKEL ET AL IN GERMANY/TRUMP AND THE CHINESE SPAR OFF/EVERYBODY TO BE INSURED WITH THE REPEAL OF OBAMACARE/OBAMA SENDS TROOPS INTO NORWAY WHICH ANGERS THE RUSSIANS EVEN MORE/ THERESA MAY PLANNING A HARD BREXIT/ appeared first on Silver For The People.