Digital COMEX Silver Rises Above $18 by Harvey Organ
Gold at (1:30 am est) $1240.00 UP $8.30
silver was : $18.06: UP 11 CENTS
Access market prices:
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:
THURSDAY gold fix Shanghai
Shanghai FIRST morning fix Feb 16/17 (10:15 pm est last night): $ 1243.46
NY ACCESS PRICE: $1235.60 (AT THE EXACT SAME TIME)/premium $8.06
Shanghai SECOND afternoon fix: 2: 15 am est (second fix/early morning):$ 1244.06
NY ACCESS PRICE: $1233.80 (AT THE EXACT SAME TIME/2:15 am)
SPREAD/ 2ND FIX TODAY!!: 10.26
China rejects NY pricing of gold as a fraud/arbitrage will now commence fully
London FIRST Fix: Feb 16/2017: 5:30 am est: $1236.75.75 (NY: same time: $1237.21 (5:30AM)
London Second fix Feb 16.2017: 10 am est: $1240.55(NY same time: $1240.50 (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.
Let us head over to the comex:
The total gold comex open interest ROSE BY 5,018 CONTRACTS UP to an OI level of 420,146 WITH THE RISE IN THE PRICE OF GOLD ( $7.80 with YESTERDAY’S trading). We are now in the contract month of FEBRUARY and it is one of the better delivery months of the year. In this next big active delivery month of February we had a LOSS of 110 contracts DOWN to 930. We had 1 notice(s) served upon yesterday and therefore we LOST 109 contracts or an additional 10,900 oz will not stand for delivery and NO DOUBT THEY WERE CASH SETTLED. The next non active contract month of March saw it’s OI RISE by 0 contracts REMAINING AT 2022.The next big active month is April and here the OI ROSE by 3038 contracts UP to 275,116.
We had 1 notice(s) filed upon today for 100 oz