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Jan Nieuwenhuijs: How China's central bank distorts the Shanghai gold price
12:09p ET Wednesday, January 29, 2020
Dear Friend of GATA and Gold:
Voima Gold researcher Jan Nieuwenhuijs today reviews data from the domestic and foreign gold exchanges in Shanghai and concludes that the People's Bank of China is intervening enough to raise domestic gold prices by a half percent.
Nieuwenhuijs concludes: "One reason the PBoC could be manipulating Shanghai Gold Exchange premiums is to let the gold-importing banks make an extra profit. Another could be national pride; to make the Chinese gold market look stronger. Either way, what most analysts look at is 'SGE premiums over London,' and these are artificially set."
Niejwenhuijs' analysis is headlined "How China's Central Bank Distorts the Shanghai Gold Price" and it's posted at Voima Gold here:
https://www.voimagold.com/insight/how-chinas-central-bank-distorts-the-s...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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