Gold Bar Premiums Hit Record in Asia on Supply Constraints

SINGAPORE, May 16 (Reuters) – Premiums for gold bars rallied to all-time highs in Hong Kong and Singapore on Thursday after bullion’s steepest drop since its April sell-off fuelled another round of buying, constricting supply.

Gold bars in Hong Kong fetched premiums of up to $5 an ounce over spot London prices, driven by tight supply and strong demand from China, the world’s second-largest consumer after India. Premiums stood at $3 an ounce last week.

“Honestly, we don’t have enough physical gold to supply to the Chinese. I just heard one Hong Kong party is quoting premiums at $6. This is mad,” said a dealer in Singapore.

By Lewa Pardomuan

Read the rest of the article here :

(image above: source India Times)

Enter your email address to receive updates each time we publish new content.

I hope that you find useful. Please, consider contributing to help the site remain public. All donations are processed 100% securely by PayPal. Thank you, Steve

2 Comments on "Gold Bar Premiums Hit Record in Asia on Supply Constraints"

  1. Steve

    I love your new site! Thank you for all your work.

    • Tas… thanks for stopping by. I plan to post some very interesting information and data on the precious metals, miners and energy.


Comments are closed.