Shanghai physical or comex paper price?

1for1 · 2026-03-15T12:03:08+1100

Hi Stackers, seems like people are still transacting using the comex paper price in Australia when buying and selling physical.

My thoughts are seeing India is now moving away from this and that the Shanghai physical premium is about $12 over comex Paper price. How long before Aussies follow suit and move to the physical bullion pricing? Seems like a natural eventuation given price discovery mechanisms are leading to this higher premium. what are your thoughts?

Azure · 2026-03-15T12:14:18+1100

If anyone buys and get comex silver delivered let me know.

The current 1oz coin price im seeing is about 140-200/oz.

So Comex 5000oz contracts are trading at a pretty big discount to spot at the moment...

*wink*

leo25 · 2026-03-15T14:04:41+1100

Dealers in Australia are finding people have almost stopped buying silver at current prices and you think increasing the cost another $12 will suddenly make people want to buy?

The lowest price i've seens 1oz kangaroos go for atm is $129 AUD (with spot at $115) and i think this premium will continue to fall over time.
Historical norm for kangaroos is about $5 above spot, but i don't think it will get this low again as kangaroos have become more popular.

1for1 · 2026-03-15T17:05:21+1100

leo25 said:
Dealers in Australia are finding people have almost stopped buying silver at current prices and you think increasing the cost another $12 will suddenly make people want to buy?

The lowest price i've seens 1oz kangaroos go for atm is $129 AUD (with spot at $115) and i think this premium will continue to fall over time.
Historical norm for kangaroos is about $5 above spot, but i don't think it will get this low again as kangaroos have become more popular.

Buyers are one thing but who is going to sell at the comex price? I think we know the west are sellers an the east are buyers.

Physical tightness in the west usually happens when prices go up we see bullion stores start to impose wait times.

Physical arbitrage will become more common if the disparity between easy and West prices continues.

Geographic dissonance price differentials are generally only short term so if this continues I am sure physical prices will be adjusted up.

Azure · 2026-03-15T21:13:23+1100

PM kangaroos at 129 with spot at 115? And they have stock?

Across yhe board of bullion deals of late all im seeing is like...

Screenshot_20260315_210935_Samsung Internet.webp

OR.. basicly empty stocks.

TBH, tho. I think your right on sales volumes lately...
But id put it to lack of diversity, stock on hand, and no real interested in buying back at anything close to reasonable prices to stock the shelves.

At the abover prices.. gee.. i wonder why they would have stopped...

Where are you seeing that 129?
Lucky if you can get per oz for KG bars as far as I can see.

Im sure when i updated my excel spreadsheet of perhaps 10 online prices like: friday ... average was about 160 with a deviation of about $5.

trew · 2026-03-15T23:26:20+1100

You must be only looking at the most expensive sites - try Bullion Now and Liberty Bullion

Azure · 2026-03-16T09:57:33+1100

Ok great, thanks.
I stand corrected:
$140 and $136 for kangeroos there.

26 kooks $139 and you can get KG bars at $129 at libery also.
BN price being about $4/oz higher for kg bars.

Maple, Eagle, Krug and Kooks also just under $150 at BN.

14k kangaroos in stock, but vastly smaller quantities of an otherwise limited range in comparison to historical norm, and I have checked recently, and these really look to only be coming back into stock recently.

However:
"Cherry picking" IS a logical fallacy.
So damned if im going to argue about it.

Kangaroos are not bars and the difference for round 50c coins between BN and Liberty is $12 per coin.
the difference being that the shop charging $12 more has only 5 available.
so if someone sells a single unit of any one coin, does that instantly justify a $36 an oz premium overhead vs: another target shops price? because They dont have many?
What about all the coins sold to investors to date, dont they still exist, somewhere?
And do dealers consider volume avaialble to account for price difference if another shop has the same product at vastly larger quantities avaialble?

Appologies also, I wasnt trying to justify prices at the $185-190 level with buybacks for $108. thats... Ludacris.
It was an example that I can certainly point to for an extreme, and TBH wasnt cherry picked, but was screenshot and posted because it was so extreme when I came across it.