Loading ...[and if true does it have any influence on the current gold rally?]
Today’s gold news. It’s never a good time to be buying when demand has already – temporarily – spiked:
with stocks now including kilo and also 400-ounce London Good Delivery bars, as well as bars meeting the Comex’s 100-ounce specifications.
Trading volumes through London’s bullion market last month rose more than 85% from March 2019, according to figures shared with BullionVault by LBMA-i data providers Nasdaq.
Primarily vaulted in London, gold-backed ETF products needed some 3,165 tonnes of bullion by this time last week says data from the mining industry’s World Gold Council – a new record and 4.3% above end-February levels, driven by US investment demand.
In contrast, gold bullion bars landed in China – the world No.1 consumer market – today traded $20 below London quotes, as poor demand and ample supply conspired with a weak Yuan to extend Shanghai’s near-record discount.”