The Rise of the Shanghai Gold Exchange
The Shanghai Gold Exchange is growing. See by how much.
Gold Delivered On The Shanghai Gold Exchange.
We have written of the vast amounts of gold flowing from west to east as gold is sold in massive quantities in the paper markets in the west and bought in large quantities in physical form in the east.
China, Russia and other eastern nations and individuals have been furiously purchasing gold in large amounts in recent years. (see Russian and Chinese gold charts below).
Most of the gold in the world, however, supposedly still resides in Western nation vaults and trades on western exchanges run by the CME Group (Comex) and the London Bullion Market Association (the London Bullion Market), both which are suspected as the loci for western central bank price manipulation.
Enter The Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE), founded by the People’s Bank of China, was created to act as a physical gold trading platform. While still small compared to its western counterparts, the SGE has been growing rapidly. The chart below shows the increasing amounts of gold delivered on the SGE.
China is already the world’s largest gold producer and gold importer.
It seems China’s goal is also to have the largest gold exchange in the world.
The Growth of the Shanghai Gold Exchange 2009-2014
Shanghai Gold Exchange Volume
Russia Continues To Boost its Gold Reserves
China Increases its Gold Imports Via Hong Kong
Charts courtesy of Nick Laird of Sharelynx – The Gold Standard in Precious Metals Charts
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