Singapore and Indian Brokers Sold Out; Shanghai Gold Volumes Surge 55%

``Singapore, Shanghai, Dubai, Turkey and western markets continue to see high premiums for gold. Overnight the volume for the Shanghai Gold Exchange's cash contract surged 55% to 15,641 kilograms from a two-week low of 10,094 kilograms on May 27. The Shanghai Futures Exchange announced yesterday that they will begin after-hours trading for gold and silver futures within one or two months. In Singapore, gold coins and bars are being sold at high premiums compared to the spot price as there is not enough supply in the market to meet the strong demand.    Reuters quoted one broker who said that most of the bullion dealers in Singapore were sold out of bullion and that "everybody is buying and no one is selling."''