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Focus Premium on China's Shanghai Gold Exchange hits record highs as supply constraints and demand converge
The gold market may be struggling to attract attention from Western investors; however, Eastern consumers continue to pile into the precious metal at record paces. Analysts note that both Japanese and Chinese investors have become significant gold buyers in recent weeks as the precious metal has hit record highs against the Japanese yen. At the same time, gold premiums on the Shanghai Gold Exchange vs. prices in Comex gold futures have hit record highs. The price premiums in China have started to attract significant attention on social media, with many analysts commenting on this unprecedented environment. In an ... (full story)