May 29 AM Gold Market
LBMA Spot
Gold opened yesterday under $4,400, jumped and closed just under $4,500, tread water most of the night but has drifted higher to ~$4,540 this morning.
EFP Spreads (ET)
Spot price @ 06:46 : $4,537.57
Jun26 = -$1.03 vs +$1.39 Previously (spot @ 06:06 : $4,526.93)
Jul26 = +$14.33 vs +$13.09
Aug26 = +$33.33 vs +$32.59
EFP Commentary
Jun26 EFP spread flips slightly negative. Jul & Aug spreads hold steady.
India
MCX Jun26 [GOLD 1kg] : $5,110.83 (less 15% BCD+AISD = $4,344.21)
IBJA PM spot : $5,122.68 (less 15% BCD+AISD = $4,354.28)
China
SGE $4,520.65 (no VAT)
SFE $4,545.60
SGE premium to LBMA spot = ~$2
SFE premium to SGE = $24.95
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May 29 Gold Vaults (ozt)
GLD
COMEX
SFE??? (not sure if public)
LBMA??? (published once a month)
SGE??? (not public)
COMEX 5-27
1.2K ozt (0.03t) moved from [E] to [R] in Delaware
COMEX Commentary
I'm just now starting to watch COMEX gold closely. I should start posting more metrics/analysis like I do with silver once we start receiving June data.
GLD Assets
World Gold Trust Services:
JPM:
HSBC:
Shares down 800K and ozt unchanged. Was yesterday's 92K drain front running today's share drain (it wasn't large enough to account for 800K shares though)? Does GLD not move shares & vault stock in tandem like SLV does? Need to watch this a bit more to get a feel for how it flows.
SHFE has a web page purportedly reporting the Daily Warrants for gold futures just like it does for silver futures, but the gold futures page doesn't list the vault locations or apparently updated data. It always has the same number posted so I don't think it is correct information. I'm not sure if the SHFE gold vault info is public data (or where to find it if it is).