Summary: Gold stockpiles in Shanghai warehouses have reached an all-time high due to a surge in arbitrage activity. Traders are capitalizing on the price gap between gold futures and the physical metal, buying cheaper gold on the spot market and delivering it to the exchange. This highlights the strong demand for gold investments in China, despite a decline in physical demand from retail consumers.

Link: https://www.theedgesingapore.com/news/gold/record-gold-floods-shanghai-warehouses-arbitrage-play