Gold Discount in China Amid Price Surge, Long-Term Outlook Bullish

The gold premium/discount on the SGE and the price of gold in USD below.

SGE now showing a rare discount for a couple of weeks as gold marched towards $2,500/oz.

Demand clearly waning in China due to the high price of the yellow metal. The premium returns whenever gold price corrects, even at around $2,300 to $2,400 last time.

People are willing to pay higher and higher prices for gold but not willing to follow the surge. They'll wait for prices to ease off a bit. Long-term view of gold still very bullish.

$SPDR Gold Shares(GLD)$ $Newmont Mining(NEM)$ $Agnico Eagle Mines(AEM)$ $Kinross(KGC)$ $Barrick Gold Corp(GOLD)$

Image

https://x.com/BrianTycangco/status/1834129462654636516

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Kiyosumi
09-14
Kiyosumi
Great article, would you like to share it?

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