Shanghai Gold Exchange Delivers 58 Tonnes of Gold in Final Full Week of 2014

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.

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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.

Shanghai gold exchange chart showing gold delivered in 2014

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.

chart showing American gold eagle sales 1986-2014

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

U.S. Mint Gold sales in 2014

Chinese Gold Mining Production

China Hoards its Gold Production

The Importance of Silver to China

The Importance of Gold

Gold Supply and Demand

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 Gold

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

Gold, Silver and Real Estate

Royal Canadian Mint

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