Shanghai Gold and Silver Premiums Through The Roof


This is unprecedented. I have never seen such high premiums before in Shanghai. 3.5% premium (that's $35/ounce) on gold and 12% premium (that's $2/ounce) on silver (VAT tax not included). Just based on this, precious metals could be bottoming out.











Also dealers like APMEX have high premiums for gold.







Silver is somewhat lower in premium.











But what is most striking is that mining companies refuse to lower their physical bullion sale price. This leads to very high premiums.




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