Shanghai Gold Exchange Withdrawals Down 13% in October

Shanghai Gold Exchange Withdrawals in 2016 Are Down 28% Year Over Year Through October.

Shanghai Gold Exchange October withdrawals were 153.3 tonnes.

October 2016 gold withdrawals were 13% lower compared to 176.288 tonnes withdrawn in October 2015.

Through October 2016, withdrawals of 1560 tonnes were 28% lower than withdrawals of 2165 tonnes through October 2015.

Buy Gold Online

Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) withdrawals of 153.252 tonnes of gold during the month of October 2016 were down 13% from withdrawals of 176.288 tonnes in October 2015 and down 24% from October 2014 withdrawals of 201.114 tonnes.

October withdrawals were down 10.3% from 170.9 tons withdrawn in September.

Withdrawals on the Shanghai Gold Exchange are often considered a good proxy for the level of physical gold demand in China.

Rising gold prices have dented not only Chinese physical gold demand, but also Indian, U.S. and western physical gold retail demand. A fall in the price of gold in early October, sparked physical buying in India and the United States.

The Peoples Bank of China has slowed its gold purchases recently. In October the PBOC added just four tons of gold to its reserves.

Shanghai Gold Withdrawals 2014 -2016

Sign Up For Updates Here!

October 2016 Shanghai Gold Exchange Withdrawals vs. Prior Years


Gold withdrawals on the Shanghai Gold Exchange in October 2016 were the third largest total in the month of October since 2008.

Sign Up For Updates Here!

You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
Golden Eagle Coins
JM Bullion
Money Metals Exchange

Buy American Gold Eagle Coins

Shanghai Gold Exchange Withdrawals Year To Data vs. Prior Years


Through October 2016, SGE withdrawals were 1559.999 tonnes, or 28% lower than 2165.439 metric tons withdrawn through October 2015.

Check out all the Smaulgld podcasts here.

Please consider making a small donation to Thanks!

The Lowest Cost. Period.

Sign Up For Updates Here!

Buy Silver Chinese Panda Coins

Data Source – All Shanghai Gold Exchange withdrawal data courtesy of Nick Laird of Sharelynx who sources it directly from the People’s Bank of China’s Chinese language web site.

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

Please consider making a small donation to Thanks!

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.

Buy American Gold Buffalo Coins

Further Reading:

Shanghai Gold Exchange Withdrawals (weekly/monthly archive)

Chinese Gold Reserves (monthly archive)

China Devalues the Yuan

Comex Gold Deliveries vs the Shanghai Gold Exchange

Gold Continues its Journey From West To East

Shanghai Gold Exchange vs Comex Gold Deliveries

Gold ETF Holdings vs the Shanghai Gold Exchange

China and Gold

India and Gold

Russia and Gold

Gold and Silver Price Manipulation – Suspected

Gold and Silver Price Manipulation – Actual

Gold Reserves by Country – Top Twenty

Gold Moves West to East Part 1

Gold Moves West to East Part 2

Gold ETF Holdings on the Rise

Chinese vs. United States Gold Demand

Chinese Gold Production

China Hoards its Gold Production

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, Goldbroker, Golden Eagle Coin, Perth and Royal Canadian Mint ads on the site.

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