💨 Abstract

Bullion banks are transporting gold from Asian hubs like Dubai and Hong Kong to the United States to capitalize on the high premium of U.S. gold futures over spot prices. This is unusual as traditionally, gold moves eastward to cater to demand from China and India, the world's largest consumers. The premium on Comex futures over spot prices has widened to about $40, while discounts in India and China remain high.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖