LONDON (Reuters) – The most active Comex futures reduced their premium on London prices on Thursday after Washington excluded minerals from import tariffs in the broad United States, which facilitated motivation to continue their transfer to the United States.
President Donald Trump announced the mutual definitions on Wednesday night that raises effective import taxes to the highest levels in a century, but there were exceptions from the customs tariff – for gold, silver and platinum minerals from among others.
The Comex Future Futures Futures on the last London’s instant prices were about $ 20 per TRIY OICE compared to $ 43 on Wednesday. Usually, it is less than $ 10.
The premium of the silver futures and platinums also decreased on the London spot sharply.
“Low industry I thought the alloys will attract definitions in the end. But the arbitration in New York-Lindon still absorbs a huge amount of metal across the Atlantic when the speculators are betting on the khula,” said Adrian Ash, Marketplace Bullionvau, online.
“Now this metal seems suddenly unnecessary.”
Gold, silver and platinum, whose value is more than $ 80 billion, was delivered at current prices in total to stocks in comics warehouses with the risk of definitions attached to them in December to March.
The latest data from Comex appears, part of the CME group, gold stored in its warehouses in the United States at its highest levels at 44.5 million ounces worth $ 138 billion compared to 17.1 million in November when Donald Trump was elected as an American president.
Comex shares are currently equal to five years of American gold consumption and four years of American silver demand.
However, the main external flows of them have returned from where they came – London and other major commercial centers – is unlikely to reduce prices, which follows the market through the exchange of material futures (EFPS), and reduces the bonus.
Robert Gottlieb, an expert in industry and former head of precious metals at Koch Supply and Trading, said in order for shipments to reflect, EFPS must become negative, as one can sell London and buy futures at a lower price.
(Participated in the reports of Polina Defit; edited by David Evans)