The Shanghai Gold Exchange
Total Gold Delivered on the Shanghai Gold Exchange through December 26, 2014: 2,073 Tonnes.
The Shanghai Gold Exchange delivers 57.655 tonnes of gold for the week ended December 26.
Fractional American Gold Eagles in 1/10, 1/4 and 1/2 oz Sizes for Smaller Budgets
The volume of gold delivered on the Shanghai Gold Exchange since 2009 reaches 7,885 tonnes.
The amount of gold delivered on the Shanghai Gold Exchange (SGE) for the week ended December 26 was 57.655 tonnes down from 60.657 tonnes for the week ended December 19 and up from 50.028 tonnes for the week ended December 12.
The SGE has delivered 2,073 tonnes of gold through the first full 52 weeks of 2014. Two thousand tonnes is equal to nearly half of the annual global gold mining production of which China itself produces over 400 tons.
The Shanghai Gold Exchange topped 2,000 tonns of gold delivered in 2014.
Chart courtesey of Nick Laird of Sharelynx – the Gold Standard in Precious Metals Charts.
Gold Demand Has Moved East
Retail gold demand from and originating in the United States has been declining since the price of gold hit an all time high in 2011. American Gold Eagle coin sales in 2014 were down 44% from 2013.
Sales of American Gold Eagle coins were down 44% in 2014 from 2013..
RIC (Russia, India and China) is The Largest Gold Buying Group in the World
Eastern demand coming from Russia, India and China continues unabated. Russia added another 600,000 ounces of gold (18.7 tons) to its reserves in November bringing their total to over 150 tons added in 2014.
Meanwhile, India has regained the title of the world’s number one gold consumer, passing China in the wake of removing some gold import restrictions that has resulted in a surge of gold imports to the sub continent.
China continues to be the world’s number one gold producer.
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Further Reading:
The Shanghai Gold Exchanges Delivers 2000 Tons of Gold in 2014
The Shanghai Gold Exchange Delivers 50 tons of Gold in the week ended December 12, 2014
Shanghai Gold Exchange on Track to Deliver 2000 Tons of Gold in 2014
October 2014 Shanghai Gold Exchange
The Rise of the Shanghai Gold Exchange
Chinese Gold Mining Production
China Hoards its Gold Production
The Importance of Silver to China
Gold and Silver Price Manipulation – Suspected (Pt 1)
Gold and Silver Price Manipulation – Actual (Pt 2)
Top Foreign Holders of U.S. Treasuries
Gold Reserves by Country – Top 20
The West Sells Paper Gold While the East Buys Physical Gold
Gold Continues to Move West To East
How To Buy Silver
Think the Fed Destroyed the Dollar
LBMA Speech re The Shanghai Gold Exchange
China Hoards its Gold Production and Becomes the World’s #1 Producer and Importer of Gold
Gold Continues to Move West To East
Eric Sprott- Connecting the Dots
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