FriedrichVonHayek

They'll probably hold off until the markets are closed at the weekend.

VAT in the Chinese Gold Market Standard Gold in China is bullion cast by a LBMA or SGE approved refinery in the form of bars or ingots of 50 gram, 100 gram, 1 kilogram, 3 kilogram or 12.5 kilogram form, with a fineness (gold purity) of 9999, 9995, 999 or 995. Both Standard Gold and Non-Standard Gold are exempt from VAT when imported into China by authorized gold importers. The default rate of Value Added TAX (VAT) in China is 17%. However, various lower rates also exist. Standard Gold sold on the Shanghai Gold Exchange (SGE) is VAT exempt. A party to a gold transaction on the SGE will be issued with a “SGE Invoice”.

As opposed to the Western Free market.

China really wants the West's Silver. Shanghai 15 Apr 2024 PM USD 32.04

I know everyone's got their own strategy but I find buying scrap Silver has the lowest spreads and is easy to offload for just under spot. In my opinion Silver coins and bars are quite illiquid if you need to sell a lot of it. You either get rinsed by a bulion dealer,low-balled on here or take your chances on fleabay.

Sold pending payment.

1kg Sterling Silver £645 or 500g for £340 freepost, investment bundles. You will receive a random bag of hallmarked .925 Silver Medallions and Ingots. The picture below is the type of items you will receive. Bank transfer or PayPal F&F.

It looks like more physical going to China.

Sorry, I need a bit more I'm afraid.

Will do 500g for £350 freepost.

£21 under spot and free delivery! Will be withdrawing later this morning.

New higher price still under spot!

Bump!

I think you're explanation is correct. At the moment I'm only seeing Metal leaving London and Zurich.

I have discovered that the mysterious DOCTOR from Bullionvault is the nickname for Bullionvault's own trading account. Today 5891kg of Silver was withdrawn from the Zurich vault.

Underspot Silver and free postage!

I would imagine that refiners in Switzerland and the Middle East will be selling to China for the 10% extra premium rather than to the Western markets.

Bullionstar from Singapore publishes the Shanghai Gold and Silver fixes everyday on their website. https://www.bullionstar.com/charts/silver-price-today

This is why I only buy scrap Silver, you can buy it for around spot and sell it for spot. Even if you can't sell it here I could get close to spot from Gerrards. When and if the Gold/Silver ratio goes my way I'll convert my scrap into Sovereigns.

Shanghai PM fix was $30.79 which is currently a 10% arbitrage over the Western Silver price.

Shanghai 9 Apr 2024 AM USD 2,390.30

Shanghai 9 Apr 2024 USD 31.10 How will the Comex react to this? The Chinese are slowly grinding the price upwards.

Bump

It does look like the Chinese are in control of the Gold and Silver markets. In years gone by I would've expected a smash down by now, after such a good run.

Shanghai 8 Apr 2024 PM USD 30.48 Already through $30 in China, it will be interesting to see if the Chinese continue to turn the screw on the Western Bullion market.