With gold hovering near the $1,800 level, a trader out of London told King World News, “China is trading gold at a $17 premium today vs COMEX futures. Silver is trading at a premium of $2.48 vs futures price (COMEX)...This tells us that there is a demand in China for gold at a price above what the spot price is.
Further, the fundamentals behind the price of gold are indicative of a price well above its present price. In fact, according to technical analyst Louise Yamada, gold will return to the $1800 level. She remains bullish.
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