zondag 3 februari 2013

How to Monitor the Gold and Silver Premium Between Shanghai and London

He who searches, will find what he's searching for (or something like that).

In a previous post here, I noticed that the silver prices between Shanghai and London were decoupling, with premiums as high as 10%. I didn't know where to find this Shanghai Exchange silver price.

But today I think I found the site that gives these gold and silver prices (for free).

You can find it on Bloomberg: 

And when Bloomberg restricts access to their site, you can find it here: http://www.sge.sh/publish/sgeen/sge_price/sge_price_daily/9550.htm

Gold for example: On February 1 the Shanghai gold price was: 334.63 RMB/g. Which is 39339 Euro/Kg at 8.506 EUR/CNY. The London price of gold on 1 February 2013 was 39297 Euro/Kg. So the premium was 0.1% (which is normal because there shouldn't be a premium).

Silver for example: On 21 December 2012 the Shanghai silver price was: 6.277 RMB/g. Which is 760.8 Euro/Kg at 8.25 EUR/CNY. The London price of silver on 21 December 2012 was $29.89/ounce or 22.61 euro/ounce at 1.322 EUR/USD. That's 726.9 Euro/Kg or indeed a 5% premium as was reported by Andrew Maguire.

This also means that I'm going to monitor the Shanghai Silver and Gold premiums to London market with this data on a daily basis!

2 opmerkingen:

  1. At this time Gold had another range bound week of trading. We saw prices firm up a bit and close near the high end of the range on Friday. We do not really have much new to report this week as Gold is continuing it’s long consolidation phase. As our friend Jim Sinclair says the best action to take in Gold is to do nothing and wait. That is unless you need to add to your position which in our view now is a good time to do so.
    ways to invest in silver

    1. I have bad news. Gold premium in shanghai is back to zero. That means gold is going to be weak going forward. Also lease rates have come down again and the shorters are back on the CFTC report...