The Shanghai Gold Exchange.
The Shanghai Gold Exchange delivered 59.12 tonnes of gold during the week ended February 13, 2015.
The Shanghai Gold Exchange has delivered nearly 375 tonnes of gold to date in 2015.
Volume of Physical Gold Delivered on the Shanghai Gold Exchange Has Averaged over 60 tonnes a Week in 2015.
The Shanghai Gold Exchange delivered another 59 tons of gold in the second week of February after delivering about the same amount in the first week of February. February’s strong deliveries follow the record 255 tons of gold delivered in January.
Last 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 has already delivered three times more physical gold in the first six weeks of 2015 than Comex delivered in all of 2014.
The Shanghai Gold Exchange delivered over 2,000 tons of gold in 2014 and 374 tons in the first six weeks of 2015.
The Shanghai Gold Exchange has opened 2015 on record pace after setting an annual record last year for physical gold deliveries.
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.
China is the world’s largest gold mining country.
Here is Nick Laird’s excellent weekly chart showing the growth of the Shanghai Gold Exchange through February 13, 2015:
The Shanghai Gold Exchange delivered over 59 tons of physical gold in the second week of February 2015.
Shanghai Gold Exchange charts 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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