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.
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 through February 13, 2015:
Shanghai Gold Exchange charts from Nick Laird of Sharelynx – The Gold Standard in Precious Metals Charts