London Trader - "Massive Physical Floor in the Gold Market"

``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). What this tells you is that these people in China are willing to pay the equivalent of roughly $12,500 more per contract than what silver is being traded for on the COMEX."''