Gold Demand Shifts to the West – Podcast

Gold Demand In The West Soars.

Gold Exports From Switzerland to London outstrip Swiss Exports To the East.

Buy American Gold Eagle Coins

Earlier in the Week Rory Hall from The Daily Coin held our bi-weekly gold and silver update call. This week we discussed gold demand in Russia, China and India and compared it to gold demand in the west.

We started the call discussing the media reaction to the Brexit vote. Nearly all main stream media accounts described the vote as a ‘disaster’ and focused on those ‘devastated’ by the outcome. There was little coverage of those celebrating the Brexit result.

We then discussed the waning gold demand in India (due to government import duties and taxes) China and Russia. The charts below show the slowing demand. After the recording the show, we learned that gold imports into Hong Kong had soared in May, reversing low import numbers the past few months.

The big increase in gold demand this year has come from western institutional investors buying gold exchange traded funds.

Please have a listen to the podcast and check out the charts and information below.

Check out all the Smaulgld podcasts here.

Please consider making a small donation to Thanks!

Sign Up For Updates Here!

Update Gold imports to China rise 58% in May

Record Gold Demand in the East in 2015.

Russia added 208 tons a record

China added over 150 tons to reserves.

The Shanghai Gold Exchange had a record 2600 tons of withdrawals

India imported over 900 tons of gold in 2015


The Central Bank of Russia added only three tons of gold to reserves in May 2016.

russian central bank gold reserves 2015 - 2016 may



Added no gold to reserves in May

Chinese gold reserves from 2009 through April 2016

Shanghai Gold Exchange

SGE withdrawals are down 15% YTD through May 2016. (982 tons in 2015 vs 835 tons in 2015) but still elevated

sge gold withdrawals through may 2016

Hong Kong Kong Gold Imports into China have been low in 2016.

hong kong imports to china through april 2016

Hong Kong imports to China in May were 115 tons, or about half of all the gold imported from January -April 2016) Update: Gold imports to China rise 58% in May


Indian Gold Imports

Under 200 tons of gold imported so far this year. In 2011 1,079 tons of gold were imported and in 2015, 920 tons were imported.

Jan up
Feb 20
March 80%
Provisional Data
April down 74%
May down 40%

indian  gold imports by month January 2015 March 2016

American Gold Buffalo
Golden Eagle Coins
JM Bullion
Money Metals Exchange


London Gold Imports From Switzerland have surged in 2016.

London has overtaken India and China gold shipments from refineries in Switzerland,

swiss gold exports to UK

Gold imports from Switzerland into London to feed EFT demand have soared, outpacing Swiss exports to Hong Kong, India and China combined.

Sign Up For Updates Here!

Where is it going?


Last Friday the day after the Brexit vote was announced there was $4.3 billion increase in holdings in gold ETF.

A total of 18.41 metric tons of gold were delivered Friday to the SPDR Gold Trust (GLD) The GLD now holds 934.31 tons of gold worth about $40 billion.

gold etf demand june 26 2016

British Retail Gold Sales

The British Royal Mint reported a 32% increase in June sales vs. May before the Brexit vote.

BullionVault reported a 85% increase in new accountss over the past 12 months daily average and its, busiest day ever on Friday, selling £25.8 million in gold and silver by early afternoon.

Sharps Pixley, a major U.K. precious metals retailer reported that their London shop had sold out and were sorucing their gold from an affiliate in Germany.

American Gold Eagles
Golden Eagle Coins
JM Bullion
Money Metals Exchange

Buy American Gold Eagle Coins

If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to

Get Free Updates From

Subscribe to and get the free In Case You Missed Itweekly email as well as updates and analysis on gold, silver, real estate and the economy.

Also get the free report “Twelve Key Differences Between Gold and Silver” when you subscribe.

Subscribe to to receive free gold and silver updates, news and analysis.

Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.

You can support by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Bullion Vault, Gold Broker, Golden Eagle Coin, GoldMoney, SD Bullion, Perth and Royal Canadian Mint ads on the site.

Browse Silver Coins on Amazon

Buy Silver Austrian Philharmonic Coins

Browse Collectible Coins on Amazon

DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.

Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.

The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.

The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.

Post Navigation