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 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:
Shanghai morning fix Oct 3 (10:15 pm est last night): $ holiday
NY ACCESS PRICE: $
Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday
NY ACCESS PRICE:
London Fix: Sept 30: 5:30 am est: $1327.90 (NY: same time: $1326.90: 5:30AM)
London Second fix Sept 16: 10 am est: $1322.50 (NY same time: $1323.00 , 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.
For comex gold:
the total number of notices filed on 2nd day notice: 3005 for 300500 oz (9.347 tonnes)
for the Oct contract month: 11 notices for 55,000 oz.
Let us have a look at the data for today
I will update the comex inventory data much later tonight.
Let us head over to the comex:
The total gold comex open interest FELL BY 4423 CONTRACTS to an OI level of 561.336 the as price of gold fell by $7.40 with FRIDAY’S trading.
The contract month of Sept is now off the board. The next delivery month is October and here the OI lost 2935 contracts down to 4458. We had 2470 notices filed on Friday so we lost 465 contracts or 46,500 oz will not stand AND no doubt that most of these were cash settled.
The next delivery month is November and here the OI fell by 20 contracts down to 2232 contracts. The next contract month and the biggest of the year is December and here this month showed an decrease of 3,533 contracts down to 437,423.
Today we had 3005 notices filed for 300,500 oz of gold.(9.347tonnes)
And now for the wild silver comex results. Total silver OI ROSE BY 846 contracts from 200,854 up to 201,700 as the price of silver ROSE to the tune of 3 cents yesterday. We are moving CLOSER TO the all time record high for silver open interest set on Wednesday August 3: (224,540). The next non active delivery month is October and here the OI fell by 235 contracts down to 202. We had 301 notices filed on Friday so we gained 66 contracts or 330,000 additional oz will stand for delivery.The November contract month saw its OI rise by 4 contracts up to 399. The next major delivery month is December and here it FELL BY 192 contracts DOWN to 170,873.
today we had 11 notices filed for silver: 55,000 oz
I will update the comex inventory data much later tonight