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Tightness reported in London gold market
Gold Demand from China and India Picks Up
By Henry Sanderson
Financial Times, London
Wednesday, September 2, 2015
London's gold market is showing tentative signs of increased demand for bullion from consumers in emerging markets, after the price of the precious metal fell to its lowest level in five years in July.
The cost of borrowing physical gold in London has risen sharply in recent weeks. That has been driven by dealers needing gold to deliver to refineries in Switzerland before it is melted down and sent to places such as India, according to market participants.
The rise "does indicate there is physical tightness in the market for gold for immediate delivery," said Jon Butler, analyst at Mitsubishi. ...
... For the remainder of the report:
http://www.ft.com/cms/s/0/eae18206-5154-11e5-b029-b9d50a74fd14.html
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