Shanghai Gold Cheapest to London Since ’12 on Weak Demand
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The spot price of gold in China is on its way to being the cheapest in 18 months relative to the international benchmark in London, indicating waning demand from the world’s largest consumer.
Bullion for immediate delivery on the Shanghai Gold Exchange was $1.47 an ounce below the price in London on a monthly average basis, the first time the Shanghai rate is cheaper than the London price since Sept. 2012, data tracked by Bloomberg News show.