Shanghai Gold Exchange February Withdrawals Highest on Record

Shanghai Gold Exchange Withdrawals Rose 67% in February to 179.237 tons from 107.6 tons in February 2016.

Shanghai Gold Exchange February withdrawals were down 3% from 184.41 tons withdrawn in January 2017.

February 2017 gold withdrawals were the largest February total ever on the Shanghai Gold Exchange.

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Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) withdrawals of 179.237 tons of gold in February were up 67% from withdrawals of 107.6 tons in February 2016 and down 3% from January 2017 withdrawals of 184.41 tons.

Withdrawals on the Shanghai Gold Exchange are often considered a good proxy for the level of physical gold demand in China.

The Peoples Bank of China has slowed its gold purchases recently. In November and December the PBOC added no gold to its reserves. The PBOC sold about 20 tons of goldin December and added about 7 tons in January and 14 tons in February 2017.

Shanghai Gold Exchange Monthy Withdrawals 2014 -2017

shanghai gold exchange monthy withdrawals 2014 - 2017 feb

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February Shanghai Gold Exchange Withdrawals vs. Prior Years

Shanghai gold exchange February withdrawals 2017

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Shanghai Gold Exchange Withdrawals 2008 – 2017

Since 2008 through February 2017, 13,392 tons of gold have been withdrawn from the Shanghai Gold Exchange.

Shanghai Gold exchange withdrawals 2008 - 2017 february

Chinese gold imports through Hong Kong January 2017

Chinese gold imports through Hong Kong of 31.79 tons accounted for 17.1% of 184.41 tons of gold withdrawn on the Shanghai Gold Exchange in January 2017.

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Data Source – All Shanghai Gold Exchange withdrawal data courtesy of Nick Laird of Goldchartsrus who sources it directly from the People’s Bank of China’s Chinese language web site.

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Further Reading:

Shanghai Gold Exchange Withdrawals (weekly/monthly archive)

Chinese Gold Reserves (monthly archive)

China Devalues the Yuan

Comex Gold Deliveries vs the Shanghai Gold Exchange

Gold Continues its Journey From West To East

Shanghai Gold Exchange vs Comex Gold Deliveries

Gold ETF Holdings vs the Shanghai Gold Exchange

China and Gold

India and Gold

Russia and Gold

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

Gold ETF Holdings on the Rise

Chinese vs. United States Gold Demand

Chinese Gold Production

China Hoards its Gold Production

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