Wednesday, 11 February 2015

GOLD WEBCAST – Shanghai premiums tick higher, Mumbai into discount

Otmane El Rhazi from The Bullion Desk.













  • The premium in Shanghai was at $3 over the spot price, although some sources reported it at as high as $4.

  • Chinese demand remains robust ahead of the Lunar New Year, which has continually underpinned gold prices this year. Still, volumes should drop precipitously during the one-week holiday that starts on February 19.

  • In India, the discount continues to widen amid dwindling demand, reaching to $2-5 per ounce on one-kilo bars

  • Elsewhere, the Hong Kong premium was down to $1, in Singapore, the premium edged up to $1.50, while the Dubai premium fell to parity as did Bangkok.




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