It's different. At present, Shanghai can only do deferred T+D, but can't do spot gold in new york and London, because China has no pricing power for gold. According to today's teacher, China will soon get the pricing power of gold, and maybe there will be another Shanghai gold in the world financial circle. Loco-London gold is spot gold, with spreads, indefinite contracts and overnight interest. New york gold is new york gold, there is no price difference, there is a fixed contract, and there is no overnight interest.

Both are not traded goods, there must be a difference, and the quotation is different.

However, the trend is the same. London gold trading is more flexible and better than new york gold.