You are here
China's gold prices believed to exceed rest of world's because of import curbs
From Bloomberg News
via Yahoo News
Tuesday, August 15, 2023
China's gold price is rising against levels in London, a trend that local traders say is due to government curbs on imports of the precious metal.
The Shanghai spot price was more than $40 an ounce higher than that in London on Aug. 14, according to Bloomberg calculations based on exchange data. That's the biggest premium in more than five months, with the gap steadily widening from late June even as consumer demand in China remained sluggish.
... Dispatch continues below ...
... ADVERTISEMENT ...
Protect Against Inflation with Kinesis
and Earn a Yield on Gold and Silver
Kinesis is an online investment platform giving you access to fully-allocated, sound-money assets, Kinesis Gold (KAU) and Kinesis Silver (KAG). With Kinesis you hold legal title to physical gold and silver bullion at all times and pay nothing for their secure storage.
On the Kinesis platform gold and silver can be used for making everyday payments with the Kinesis Virtual Card, adding utility to the value of precious metals. On the Kinesis platform you can buy gold and silver at some of the lowest market rates across the industry and take physical redemption any time.
Kinesis offers investors the opportunity to own yield-bearing gold and silver with a return on physical precious metals holdings. With low transaction fees and fast settlement times, investors enjoy a seamless experience that puts them in control of their financial future. For more information, please visit:
Authorities moving to limit gold imports appear to be a major driver behind the growing gap, according to traders and importers.
The government has reduced or stopped issuing import quotas to some local banks, according to people familiar with the matter, who asked not to be identified as the information is private.
That has resulted in a drop in flows over the last few months, two of the people said, and there's no immediate prospect of the affected quotas being issued again. The reason for the curbs isn't clear. ...
... For the remainder of the report:
https://finance.yahoo.com/news/chinas-gold-prices-rising-higher-220000714.html
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 1-4, 2023
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
