the price of gold: can't fly, page-21

Dill, sorry can't recall offhand... I read so much gold material every day. However, this is what i posted several weeks ago from the link below...

"A shortage of gold in China earlier this year when a steep fall in international prices sparked a surge in demand could have been a factor in easing the rules, he said.

In mid-April, spot gold posted its biggest two-day drop in 30 years, prompting a rush for gold jewellery, bars and coins in China and across the world.

Premiums paid for gold on the Shanghai Gold Exchange jumped to more than $30 an ounce over London spot prices, traders said.

Demand has since steadied and premiums have eased to around $7 an ounce."

So that was a month ago and premiums have fallen further since. This is actually good news as the article explains... the Chinese are easing their import restrictions to bring in more gold to meet demand and therefore reduce premiums above the global London fix.

http://www.reuters.com/article/2013/09/30/china-gold-idUSL4N0HQ15N20130930