Gold Shortages at 7% over spot in China

“According to multiple sources, demand for physical gold in mainland China at the retail level is so extremely strong that many people do not mind paying the reported 7% premiums above spot prices there and now there’s developing shortages of gold bullion in mainland China at the retail level. “

I was noting shortages and premiums back in 2008 in silver at around $12/oz. Within 3 years, silver hit $50/oz. by 2011.

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