Shanghai Gold Exchange (SGE) [NOT equal to PAGE!]

Unobtanium

Big Eyed Bug
Messages
464
Reaction score
1
Points
143
Its not really a disaster for the gold community is it ?

China feels the need to hide its gold strategy and a few watchful commentators / analysts loose access to a useful piece of data.

Availability of real gold and demand for delivery is not easy to identify though and probably never will be, even after paper suppression blows up.
Whether or not it is a real disaster or not to the gold community, I do not know. However I find it intriguing that each time some aspect of the world financial community starts to unravel, TPTB either discontinue information, change the rules, or cook up new definitions.

The fact that the Shanghai gold withdrawal data is being discontinued is enough evidence for me that something else is coming unraveled that they do not want seen.
 

pmbug

Your Host
Administrator
Messages
7,726
Reaction score
91
Points
203
Location
Texas
Disaster? No.

Negative? I think so. Information/transparency informs good decision making. Things just got a bit more opaque.

Of course, for the committed stackers who just continue with a steady accumulation strategy, it doesn't matter at all.
 

pmbug

Your Host
Administrator
Messages
7,726
Reaction score
91
Points
203
Location
Texas
Well, Y-Day is here! We've waited for years for the Chinese and their Shanghai Gold exchange to offer a competing Price "fix" to the existing structure out of London...and it all starts tomorrow! How will this impact the gold market? At what price will the Shanghai Fix come in?

By about 8:30 London time tomorrow morning (3:30 am EDT), we'll know. And won't it be fun to find out? How will this process work? At what price will tomorrow's yuan-denominated Fix be set?

From a "process" stand point, I don't suppose it will be radically different. The current spot market will be assessed and a "fix" price will be set. Then, for the next 24 hours, this will be the accepted price for wholesale gold that is transacted in yuan. Come Wednesday, the Fix will be reset to a new price according to market conditions.
...
http://www.tfmetalsreport.com/blog/7572/yuan-denominated-gold-fix-begins-tomorrow

So, it went live last night.
 

rblong2us

Yellow Jacket
Messages
2,230
Reaction score
58
Points
163
Location
off world
And what a good day it was for all the metals.

How much did this new exchange effect todays price movements ?

There are 'grey swans' in many directions and the manipulation and cover ups are becoming so regular that Judges can say professional investors shoulda known better .....
and the media is legally allowed to lie cos its 'freedom of speech' .....

The pace of the collapse quickens (-:
 

pmbug

Your Host
Administrator
Messages
7,726
Reaction score
91
Points
203
Location
Texas
And what a good day it was for all the metals.

How much did this new exchange effect todays price movements ?
...
Hard to tell. Between central bank signalling and what's happening with the oil market, there are a lot of moving parts to keep track of. Looks like both metals are pushing their upper resistance though.
 

pmbug

Your Host
Administrator
Messages
7,726
Reaction score
91
Points
203
Location
Texas
The days of JP Morgan controlling the silver market may be numbered as a new player in the silver market has arrived. For the past several years, JP Morgan held the most silver on a public exchange in the world. While the LBMA may hold (or did hold) more silver, their stockpiles are not made public.
...
Here we can see that JP Morgan’s total silver inventories have declined from 69.4 Moz to 67.2 Moz, while the Shanghai Futures Exchange silver stocks have increased from 54.7 Moz to 60.6 Moz. If the Shanghai Futures Exchange continues to add silver at this rate, it will surpass JP Morgan in a two to three weeks.
...
More( incl. charts): https://srsroccoreport.com/stand-aside-jp-morgan-a-new-player-in-the-silver-market-has-arrived/

Note that this is the Shanghai Futures Exchange and not the SGE, but still related to China.
 

pmbug

Your Host
Administrator
Messages
7,726
Reaction score
91
Points
203
Location
Texas
In an interesting development on Wednesday 12 September, the Shanghai Gold Exchange (SGE) launched trading of a new Chinese Gold Panda Coin contract on the SGE trading platform. With the addition of this listing, the SGE now offers physical trading of these famous Chinese gold bullion coins alongside its extensive range of physical gold bar and ingot trading contracts. As a reminder the Shanghai Gold Exchange is the largest physical gold exchange in the world, and nearly all gold in the Chinese gold market passes through the SGE.
...
More: https://www.bullionstar.com/blogs/r...coins-now-trading-shanghai-gold-exchange-sge/
 

rblong2us

Yellow Jacket
Messages
2,230
Reaction score
58
Points
163
Location
off world
"SGE Trading to facilitate Price Discovery" :eek:

no timescale though .............:flushed:
 
Top