I still suggest the gold arbitrage to the Shanghai physical gold...

I still suggest the gold arbitrage to the Shanghai physical gold exchange is worth watching.

Hidden name in the link, K-i-t
https://www.*****.com/charts/livegold.html
$US1939

https://www.cmegroup.com/markets/metals/precious/shanghai-gold-usd.html#venue=globex
$US2003

Plenty of incentive for every small and large trader across the planet to take physical delivery and send it on the one way trip to China.

Over the last month or so, China has been taking delivery of Gold out of New York presumably related to the Shanghai Premium. We’ve believed this for some time, knowing that JPM and others have strong banking relationships and would be able to effect such a transaction. We also had no evidence of it except the drawdown in China followed by a drawdown in US Comex.

'But now it can be said here, that two unconnected sources confirm the delivery of Gold in China from the USA. One is a respected banking analyst who dabbles in journalism. The other is a fund manager in Asia.'
https://www.zerohedge.com/news/2023-11-11/china-took-delivery-us-based-gold-last-month

And this..

I’m seeing rumours about an upcoming PBOC (People’s Bank of China) meeting early next month to the effect China is finally going to play “The Gold Card” (presumably with Russia’s wholehearted support and endorsement). And, if true, this would certainly provide the impetus for the next move higher in gold, and that will take silver along for the ride. And then, the miners. Or, they might play their “canary” role and start moving ahead of the metals themselves, as they oft-times do.