Shanghai Gold Exchange Withdrawals Fell 18.3% in January to 184.41 tons from 225.801 tons in January 2016.
Shanghai Gold Exchange January withdrawals were down 6.1% from 196.368 tons withdrawn in December 2016.
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Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE) withdrawals of 184.41 tons of gold in January were down 18.3% from withdrawals of 225.801 tons in January 2016 and down 27.8% from January 2015 withdrawals of 255.422 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 2017.
Shanghai Gold Withdrawals 2014 -2017
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January 2017 Shanghai Gold Exchange Withdrawals vs. Prior Years
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Shanghai Gold Exchange Withdrawals in 2016 vs. Prior Years
Since 2008 through 2016, 13,028 tons of gold have been withdrawn from the Shanghai Gold Exchange.
2016, SGE withdrawals were the lowest since 2012.
Chinese gold imports through Hong Kong of 51.51 tons accounted for 26.2% of 196.37 tons of gold withdrawn on the Shanghai Gold Exchange in December 2016.
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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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