Prices on the Shanghai Gold Exchange, which usually trade at a premium to gold prices in the west, are trading at a US$1 $2 discount this week. Gold futures on the Comex in New York for December delivery fell 0.2% Tuesday, to close at US$1,167.20 an ounce, marking the fifth straight trading decline and the lowest settlement price since July 28, 2010.In the past, when the price gap between east and west prices closed, Asian buyers would swoop in and buy the discount. But analysts note this is not happening yet, even as a peak buying season has taken hold in China.not seen any significant physical demand on the back of this (price drop), said Victor Thianpiriya, analyst at ANZ in Singapore.
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