The Shanghai Gold Exchange.
The Shanghai Gold Exchange delivered 59.327 tonnes of gold during the week ended February 6, 2015.
The Shanghai Gold Exchange has delivered 315 tonnes of gold to date in 2015.
Volume on the Shanghai Gold Exchange Remains Strong After Record Deliveries in January
The Shanghai Gold Exchange delivered nearly 60 tonnes of gold in the first week of February. February’s strong deliveries follow the record 255 tonnes of gold delivered in January.
Earlier this month we provided context on the massive amounts of gold delivered on the Shanghai Gold Exchange in 2014 by comparing them to gold deliveries on Comex, sales of American Gold Eagle coins and gold held by the world’s largest gold ETF, SPDR gold shares (GLD).
The Shanghai Gold Exchange delivered over 2,000 tons of gold in 2014.
China is the world’s largest gold producer and importer. With 2015’s staggering volume of gold deliveries on the Shanghai Gold Exchange to date, it looks like China is aiming to become host to the world’s largest gold exchange.
Here is Nick Laird’s excellent weekly chart showing the growth of the Shanghai Gold Exchange:
The Shanghai Gold Exchange delivered nearly 60 tons of gold in the first week of February.
Shanghai Gold Exchange chart from Nick Laird of Sharelynx – The Gold Standard in Precious Metals Charts
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Further Reading:
Shanghai Gold Exchange Withdrawals (weekly archive)
Chinese vs. United States Gold Demand
China Hoards its Gold Production
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
U.S. Mint silver and gold eagle coin sales in January 2015
U.S. silver coin demand a historical perspective
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