By rajendra jadhav
Mumbai (Reuters) -Global Bank Bank replaces hubs for Asian consumers, including Dubai and Hong Kong, in order to utilize unusually high premiums that US gold futures are enjoying at spot prices. I fly to the United States because I do it.
Traditionally, bullion banks transport gold from west to east to meet the demand from China and India, the world’s largest consumers, and account for almost half of global consumption.
However, alarms on imported tariffs planned by President Donald Trump have greatly exceeded the COMEX futures prices in recent months, creating advantageous arbitration opportunities.
“The price of gold is rising rapidly, and demand has almost disappeared in Asia,” he said, saying that Singapore -based bullion dealers have major bullion suppliers. Spot gold prices have recorded record highs on Monday. [GOL/]
“On the other hand, sweet opportunities have appeared in the United States, and of course almost all banks have jumped.
The stock of COMEX GOLD has increased almost 80 % since late November. This is a rising number of 13.8 million troions, more than $ 38 billion, at the current price, and is now supplied by hubs focusing on London, Switzerland, and now Asia.
In India, the Premium of COMEX futures has expanded to about $ 40 on Monday, compared to a discount of $ 15 and a discount of about $ 1 in China.
The cost of moving money from Asian hubs to the United States for Mumbai’s base is a fraction compared to general COMEX premium.
He said the main bullion has moved the money stored in a zone without customs in India last week to the United States.
In the normal situation, many banks bring money to India, keep it in a customs zone, and pay for import tax only after realizing demand. They can move their cargo abroad without paying taxes.
Due to high -priced retail demand in the Asian market, bullion banks were raising money from Dubai refiners. This usually functions as a major hub that supports India and supports demand in the United States.
“The United States is like a golden magnet now, and it draws money from all over the world,” he said.
(Rajendra JADHAV report, additional report by Polina Devitt and AshiTha Shivaprasad, edited by Veronica Brown and David Evans)
