Shanghai vs LBMA/COMEX
coastaljerseyguy
Posts: 2,033 ✭✭✭✭✭
Saw this on the Shanghai exchange site. Almost + $8 spot price variance and no large price drop like our markets. A $1 -2 range was the norm. Would appear to be an arbitrage trade, buy LBMA sell Shanghai, but not sure delivery costs & other considerations to move the physical over.
Also noted how their 2 primary vaults look like they dropped 30+ % in holdings over the past 3 months. Guessing the export ban started to effect their business and they need to shore up inventory to support all the electronic/solar manufacturing.
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Shanghi shipped to LBMA to bail them out in Oct/Nov and now they are running short, trying to restock but can't find it fast enough.
What are the two bottom charts?
What's the website for the exchange?
I knew it would happen.
Lots of Chinese teed off buying silver on JD.com that is counterfeit. Not silver, silver plated.
China is on the attack and is now preventing exports of silver. London's LBMA cannot count on another physical bailout from the East. The physical silver war between West and East is on. Mexico and Latin America (keep an eye on things in Venezuela) are drawn into the confilict by the West. Price volatility is the exchange of fireworks. Sourcing of metal is underway, control of supply is the goal. Winner of the war will utimately set price. With Shanghai paying more their vaults will fill while Western vaults are drained. The West will have to allow higher prices to protect their stockpiles. Monday was simply a shaking of the tree to see what would fall out. With the nuts now laying on the ground, round two will involve higher prices to acquire more metal from those still standing.
When gold and silver move together, it signals the coming end of fiat money.
they sell it, they don't buy it.
When gold and silver move together, it signals the coming end of fiat money.
Silver trades on their Shanghai Gold Exchange
When gold and silver move together, it signals the coming end of fiat money.