NOV 29/OPTIONS EXPIRY ON THE LBMA GOLD AND OTC CONTRACTS AND THUS THE REASON FOR TODAY’S RAID/TOMORROW IS FIRST DAY NOTICE FOR GOLD AND SILVER AT THE THE COMEX AND IT LOOKS LIKE A HUGE AMOUNT WIL…

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

Gold at (1:30 am est) $1187.90 DOWN $2.90
silver at $16.66: UP 8 cents
Access market prices:
Gold: 1188.50
Silver: 16.62
Tomorrow is the last day for option’s expiry. We should see gold and silver rise once this criminal activity is over with for this month. Also the low OI for the complex will no doubt help in our precious metals rise in price. I only wish, if investors want to buy gold and silver, that they only buy physical and not paper obligations.
Tomorrow is also first day notice for both the gold and silver and both are active months.
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:
TUESDAY gold fix Shanghai
Shanghai morning fix Nov 29 (10:15 pm est last night): $ 1219.88
NY ACCESS PRICE: $1191.25 (AT THE EXACT SAME TIME)/premium $28.63
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Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1216.15
NY ACCESS PRICE: 1190.85 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $25.30
China rejects NY pricing of gold as a fraud
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London Fix: Nov 29: 5:30 am est: $1187.30 (NY: same time: $1187.50 5:30AM)
London Second fix Nov 29: 10 am est: $1186.55 (NY same time: $1186.50 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.

This post was published at Harvey Organ Blog on November 29, 2016.