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Shanghai Gold Exchange February withdrawals were down 3% from 184.41 tons withdrawn in January 2017.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
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February Shanghai Gold Exchange Withdrawals vs. Prior Years
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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Since 2008 through February 2017, 13,392 tons of gold have been withdrawn from the Shanghai Gold Exchange.
Chinese gold imports through Hong Kong of 31.79 tons accounted for 17.1% of 184.41 tons of gold withdrawn on the Shanghai Gold Exchange in January 2017.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)
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
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
Chinese vs. United States Gold Demand
China Hoards its Gold Production
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