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Anonymous Tue Apr 9 19:54:14 2024 No.58343790 [View]
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Three one-year charts:
First is Shanghai silver price, in yuan per kilo.
Second in COMEX in fedbucks per ounce.
Third is USD to RMB
Since summer of last year no big RMB to USD moves. RMB slightly appreciated to USD from around Oct.
So at some point between April and October of 2023 a big spread started developing in silver prices between China and the US.
I'm not sure of the exact timing or reason, but this is something that could not happen without Chinese government approval.
Ok dug more, this article points out premium in gold taking off from September, probably same with silver:
https://www.gold.org/goldhub/gold-focus/2023/09/chinese-gold-premium-has-dust-settled-record-surge

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