GOLDBUGS AMEX Goldbugs Index (GOLD)

[nagoya1]

I saw on another board, can someone confirm the YUAN-US dollar conversions, thanks in advance.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106467665


bullforever Sunday, 09/21/14 06:44:53 AM
Re: None
Post # of 10233
All of west gold will go to shanghai gold exchange soon.

From this link,

http://www.cmegroup.com/trading/metals/precious/gold.html

you can see that Comex gold was sold between $1216.3 and $1228.7/ounce 09/18/2014.

But from Shanghai gold exchange, international board link

http://www.sge.com.cn/upload/resources/image/2014/09/19/28873.png

you can see that gold was sold between 259.6 and 259.9 yuan/gram 09/18/2014.

if you convert them by using its gold converter

http://www.sge.com.cn/

we get Shanghai gold exchange sold gold between $1313.88 and $1315.4/ounce. That means a difference of $90~$100/ounce

So, that is why GLD loses gold every day and fast, and these gold finally go to shanghai.

I believe that New York and London cannot manipulate gold price any longer!