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MKS, Commerzbank: Shanghai Gold Premium Hits Multi-Year High

Posted on 29 November 2016

The Shanghai Gold Exchange premium soared to multi-year highs overnight, with Commerzbank citing recent news reports that China’s government may restrict the number of import licenses and MKS (Switzerland) S.A. reporting that dollar weakness also boosted the appeal of gold.
“The early-session USD weakness gave gold a boost right from the open, surging through the Friday high leading into the Shanghai session, before taking a further leg higher courtesy of Chinese interest as the SGE premium continued to trade elevated,” MKS says………………………………………..Full Article: Source


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