Gold at (1:30 am est) $1137.30 UP $5.40
silver at $15.93: UP 23 cents
Access market prices:
Gold: $1139.00
Silver: $15.96
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 Dec 27 (10:15 pm est last night): $ 1161.18
NY ACCESS PRICE: $1137.50 (AT THE EXACT SAME TIME)/premium $23.68
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Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ 1161.28
NY ACCESS PRICE: $1139.50 (AT THE EXACT SAME TIME/2:15 am)
HUGE SPREAD 2ND FIX TODAY!!: $21.78
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
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London Fix: Dec 27: 5:30 am est: $xxx.00 (NY: same time: $xxx 5:30AM)
London Second fix Dec 27: 10 am est: $XXXX (NY same time: $xxx 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.
This post was published at Harvey Organ Blog on December 27, 2016.
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