The Continually Widening Gap Between Shanghai Benchmark and London/New York Benchmark Gold/Silver Prices

Recently, Presidents of African nations Mali and Burkina Faso courageously stood up to perpetual NATO destruction of their nations by warning NATO that they would consider their intervention in Niger as a declaration of war on their nations. Part of this pushback against NATO policies in Africa by African Heads of State no doubt are a consequence of NATO’s shameless destruction of Libya at the behest of France in which NATO quickly converted one of the most economically thriving, stable and secular Muslim nations in Africa into a terrorist haven of chaos with open-air slave markets. This is part of a greater growing global pushback against all Western destructive Military Industrial Banking (MIB) complex initiatives around the world (of which the war against Russia in Ukraine firmly falls within these confines).

Along these lines,  one nation has remained relatively immune to this year’s excessive Western Central Bank meddling to suppress gold and silver prices. And that nation is China. The Chinese ability to establish higher physical gold (and silver) prices in Shanghai versus those being suppressed by the MIB complex in London and New York derivative markets is of critical importance to Russia and China’s unification attempt of non-NATO nations against Western Central Bankers in our ongoing global currency wars.  Higher benchmark gold and silver prices within China versus outside of its domestic borders provide hope for all non-NATO nations of eventually attaining freedom for prices received for their mined resources. Allow me to explain.

On 17 August, on this platform, I wrote an article that discussed the increasing gap in gold benchmark prices established in Shanghai and those manipulated lower by the Western Military Industrial Banking complex in London/New York. In that article, I provided graphs to demonstrate how this gap had been increasing all year over last, and how on 13 August, it had grown as large as $37/ounce higher in Shanghai over London/New York.

I also specifically stated in that month-old article, the following,

In the future, if Western Central Banking price suppression continues, I would not be surprised to see this gap in price grow to more than US$50/AuOz or US$75/AuOz. 

Remember,  I originally published this article on my substack newsletter here on 17 August, thus providing a prediction of the $37 an ounce gap that existed at the time growing to more than a $75 an ounce gap over a month ago. Allow me to provide a quick update to see if this gap between Shanghai spot gold and New York/London spot gold prices has grown since then.

On 13 September, the Shanghai benchmark gold price was 474.58RMB/gAu. Using the Forex RMB:USD rate on that date of 0.137387, and the conversion rate of 31.10348g/troy ounce, the USD spot price for gold on 13 September 2023 in Shanghai was US$2,027.98/AuOz. The comparable London PM price fix for the same day (Asia is one day ahead) was a mere $1,908.55, translating into a same-day Shanghai benchmark price that was a whopping $119.43 an ounce higher, or 6.26% higher, than in the West, not only fulfilling my belief that the gap would grow to more than $75 an ounce, but also eclipsing a monumental $100/ounce difference in spot prices.

I remember, literally more than 15 years ago, having a very heated argument with a member of the US Commodities Futures Trading Commission (CFTC), who tried to marginalize and dismiss my accusations of Western banker price manipulation and suppression of gold prices (that since have been undeniably proven in US courts with Western banker guilty pleas). In the course of my argument, the CFTC member tried to lecture me, with condescending arrogance, by stating that the only reason a gap existed between Shanghai and London/New York gold benchmark prices back then was because Shanghai constantly manipulated prices higher. His rebuttal to evidence I provided to him was that Shanghai manipulation, not Western MIB (Military Industrial Banking) complex manipulation, was responsible for a 2.5% higher gold benchmark price in Shanghai over Western established prices.

I remember exclaiming “Unbelievable!” when I received the CFTC commissioner’s illogical response, as it directly opposed the direct evidence I presented to him of the gold price waterfall that occurred nearly every single day for weeks to months, at the open of the NY gold futures market at 8:30AM EST. But then again, as we’ve all observed during Covid lockdowns, the Ruling Class authorities just make up whatever lies they want, even when it directly contradicts all available facts and evidence, and present the lies as truth to the masses who seem to be easily swayed into embracing their lies as truth.

If you have been following me for a while, you know that I have written about the widening gaps in price between spot gold/silver and physical gold/silver prices for over a decade now. Joining these disparities in gold/silver prices across different markets, we now have widening gaps in spot precious metal prices between East and West. It doesn’t take a genius to understand that the Western Military Industrial Banking complex’s perpetual suppression of gold/silver prices in their controlled derivative markets in London/New York is solely responsible for these rapidly growing divides in prices. And this is precisely, why I titled the original linked article on my substack platform above “Indisputable Proof of the Massive Misalignment Between Western PM Mining Share Prices and Reality”. In that article, I discussed what I believe will be a better alternative asset class for Western gold and silver mining shares moving forward from Q3 2023.

Why is this massive gap in spot gold prices so important? Some may say that even should the price difference grow larger, that it is irrelevant since China employs many regulations to ensure that no one can buy physical gold at much lower New York/London prices and then re-sell it in China, either digitally or through physical importation, to lock in risk-free profits in the millions of dollars. However, this ongoing, years-long development, is important, and very important, for the potentially much better gold/silver asset class I discussed in the above linked article, as this asset class can find a way to avoid the Western Military Industrial Banking complex price suppression of spot gold prices in London/New York should these shenanigans continue for the foreseeable future. That’s why a breakout from the normal 2.5% higher Shanghai gold benchmark prices to the now above a 6% increase is extremely important.

Furthermore, one should not be surprised at all to learn that as massive as the percentage gap between Shanghai and London/New York gold benchmark prices have grown, that the percentage gap in the even more wildly manipulated Western silver derivative markets have caused the gap between Shanghai and London/New York silver benchmark prices to wildly even exceed the massive gap in gold benchmark prices.

For example, on 11 September, the Shanghai PM silver benchmark price was, per the above, US$793.36977/1000gAg, which translated into a Shanghai silver benchmark price of $24.71 per ounce. The comparable London PM silver price fix (remember Asia is one day ahead of the West) was still only $23.01, translating into a whopping $1.70 an ounce higher silver benchmark price, or in percentage terms, a +7.39% higher price. If you are unaware of the establishment of such massively higher gold (+6.26%) and silver (+7.39%) benchmark prices in Shanghai over Western gold/silver prices, clearly meant to send a message to the rest of the world, including new BRICS members Argentina, Egypt, Ethiopia, Iran,  the United Arab Emirates, and Saudi Arabia (and by proxy, also large gold/silver producing nations like Mexico, Chile, Peru, Bolivia, etc), of the potential freedom they can have from unfair gold/silver prices imposed by the Western MIB upon them, then you simply have been subsisting on a concentrated diet of too much MIB carefully controlled Western media financial propaganda and need to diversify your media news diet. Lastly, since I’ve already mentioned that the MIB whipsaws silver prices even more so than in gold, don’t be surprised if the Shanghai silver benchmark premium grows to more than 10% in silver over New York/London in the future.

Though the mechanisms have not yet been launched to allow non-Chinese precious metal producing nations to benefit from the much higher gold/silver prices established within China’s domestic borders, there is no doubt that the much higher prices China is establishing inside their domestic borders are meant to send a firm signal to all of the largest non-NATO gold/silver producing nations of the potential massive economic benefit that their nations can reap from joining a non-NATO established gold/silver benchmark, instead of meekly accepting whatever precious metal prices, criminal (as established by the US court system) Goldman Sachs and JP Morgan bankers, that do not even mine a single milligram of gold or silver, set in New York and London to maintain USD hegemony over the entire world.

PS. Paying subscribers, please reserve your comments about the “better alternative asset class for Western gold and silver mining shares moving forward from Q3 2023” for future subscriber only posts. This will keep this information premium for paying subscribers as intended, as all free subscribers can read all comments on all free articles. Thank you for your courtesy to all other paying subscribers here!


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