Shanghai Gold Exchange Withdrawals fell 17% in May to 138.079 tons down from 165.78 tons in April.
Shanghai Gold Exchange May withdrawals were down 6.3% from 147.283 tons withdrawn in May 2016.
Through May 2017, gold withdrawals were at the third highest level compared to prior years totals through May.
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Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE) withdrawals of 138.079 tons of gold in May were dpwm 6.3% from withdrawals of 147.283 tons in May 2016 and down 16.9% from April 2017 withdrawals of 165.78 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 gold in December and added about 7 tons in January and 14 tons in February 2017. The PBOC added no gold to reserves in March, April or May 2017.
Shanghai Gold Exchange Monthly Withdrawals 2014 -2017*
Shanghai Gold Exchange Withdrawals vs COMEX Deliveries
Two Week Withdrawals on the Shanghai Gold Exchange in September 2015 vs. Comex 2014
Shanghai Gold Exchange Withdrawals vs COMEX Gold Deliveries
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May Shanghai Gold Exchange Withdrawals vs. Prior Years
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Golden Eagle Coins
SD Bullion
Money Metals Exchange
Shanghai Gold Exchange Withdrawals 2008 – 2017
Since 2008 through May 2017, 13,857 tons of gold have been withdrawn from the Shanghai Gold Exchange.
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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. February 2017 (from 179.237 to 148.24 tons) and April 2017 (from 171.395 to 165.78 tons) SGE withdrawals were revised downward in May, the charts reflect the adjustments.
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