SEPT 6/A MONSTROUS 14.25 TONNES OF ‘PAPER GOLD’ ADDED INTO THE GLD/STRANGELY NO CHANGE IN SILVER AT THE SLV/HUGE ADVANCE IN BOTH GOLD, SILVER AND THE GOLD/SILVER EQUITY STOCKS/CHINA MAY BE NEARIN…

Jon Gold, Government, Market Commentary, Precious Metals, Silver

Gold:1349.30 up $27.30
Silver 20.05 up 77 cents
In the access market 5:15 pm
Gold: 1350.05
Silver: 20.06
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 3 am est (first fix) and 10 am est (second fix)
Thus Shanghai’s second fix corresponds to 45 minutes before London’s first fix.
And now the fix recordings:
First the Shanghai fix Sept 5
Shanghai morning fix (10:15 pm est last night): $1325.32
NY ACCESS PRICE: $1325.68 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$1327.81
NY ACCESS PRICE: 1326.96 (AT THE EXACT SAME TIME)
London Fix: Sept 5: 3: am est: $1328.30 (NY: same time: $1326.20: 3 AM)
London Second fix Sept 5: 10 am est: $1326.35 (NY same time: $1326.34 , 10 AM)
Shanghai fix Sept 6
Shanghai morning fix Sept 6 (10:15 pm est last night): $1328.74
price in NY on access at the exact same time:$1325.68
Shanghai afternoon fix Sept 6(2:15 am this morning: $1329.36
price in NY on access at the exact same time: $1326.80
The two London fixes:
First fix:Sept 6 2016 am:$1330.35 (3 am est) vs Shanghai (2:15 am): 1328.74
New York access price as the same time (3 am): $1328.10
Second fix: pm Sept 6:$ 1337.25 (10 am est) 1334.70 USA gold price at 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
For gold:The front September contract month we had 0 notices filed for nil oz
For silver: the month of September we have a total of 253 notices filed for 1,265,000 oz
Generally after a 4 day weekend, the bankers always whack. This has been going on for many years. It looks like our paper gold/silver boys are in some sort of trouble e.g. Deutsche bank.
Let us have a look at the data for today

This post was published at Harvey Organ Blog on September 6, 2016.