On Oct. 18 the spread in gold price between the Shanghai Gold Exchange (SGE) and the London/Comex gold fix was a record $5 as the Eastern physical markets continue to ever so slowly pull away from the Western paper gold markets.
The SGE is the largest physical gold market in the world, and commenced declaration of its own gold price back in April of this year. And over the course of 2016 they have intermittently increased the spread between themselves and the purely paper markets run out of London and New York.
Shanghai Gold Exchange fix times: 10:15pm est and 2:15am est
London gold fix times: is at 5:30am est and 10am est
Shanghai morning fix OCT 18 (10:15 pm est last night): $1276.80
NY ACCESS PRICE: $1271.50 (AT THE EXACT SAME TIME)
Shanghai afternoon fix: 2: 15am est: $1274.31
NY ACCESS PRICE: $1269.70 (AT THE EXACT SAME TIME)
Spread between each market at both fix times: $5 difference – Silver Doctors
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