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Katchum
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Albert Sung is the author of Correlation Economics, monitoring breaking economic news on a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at Ashland, a... More
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Correlation Economics
  • Update: Shanghai To London Gold And Silver Premium 2 comments
    Feb 21, 2013 11:16 AM | about stocks: GLD, SLV

    Just a little update for those who think precious metals demand is going down.

    As you can see, Asians want to pay a premium for precious metals. The west is selling gold, the east is buying gold...

     

     

    (click to enlarge)

    Chart 1: Shanghai to London Gold Premium

     

     

    (click to enlarge)

    Chart 2: Shanghai to London Silver Premium

    Disclosure: I am long AGQ.

    Stocks: GLD, SLV
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Comments (2)
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  • I assume the zeros reflect the Shanghai market closed due to Chinese New Year.

     

    Amazing linearity to the trends, otherwise!

     

    What's it all mean?
    21 Feb 2013, 02:33 PM Reply Like
  • SM: I think it means the east is expecting bad economics and doesn't want to be stuck with government paper promises. Also, gold can be traded "invisibly" to avoid gov scrutiny. Hide it. Deny it.

     

    We in the USA should learn from the ancient Chinese :-)
    21 Feb 2013, 03:06 PM Reply Like
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