Shanghai Gold Exchange Withdrawals Rise 64% in March

Shanghai Gold Exchange Withdrawals Were 193 Tons in March.

Shanghai Gold Exchange Withdrawals rose 64% in March to 192.614 tons up from 118.424 tons in February.

Shanghai Gold Exchange March withdrawals were the second highest March total in the exchange’s history.



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Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) withdrawals of 192.614 tons of gold in March were up 63.5% from withdrawals of 118.424 tons in February 2018 and essentially flat from March 2017 withdrawals of 192.25 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 2016, the PBOC added no gold to its reserves.

The PBOC has not reported adding any gold to reserves since October 2016.

Shanghai Gold Exchange Monthly Withdrawals 2008 -2018

shanghai gold exchange monthly withdrawals 2008 - 2018 through March

Shanghai Gold Exchange Withdrawals in March 2008 – 2017

March Shanghai Gold Exchange Withdrawals 2008 - 2018

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 deliveries chart

Withdrawals on the Shanghai Gold Exchange were 137 tonnes during the two week period ended September 18, 2015, compared to just 85 tonnes delivered in all of 2014 on COMEX.

Shanghai Gold Exchange Withdrawals vs COMEX Gold Deliveries

COMEX TRADERS STANDING FOR DELIVERY?

Comex gold deliveries vs Shanghai Gold Exchange Withdrawals

COMEX is clearly not a place where traders go to BUY physical gold, rather a place to gain exposure to the price of gold.

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Shanghai Gold Exchange Withdrawals Through March 2008 – 2018

Shanghai Gold Exchange withdrawals through March 2008 - 2018

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Shanghai Gold Exchange Withdrawals 2008 – 2017

Since 2008 through March 2018, 15,593 tons of gold have been withdrawn from the Shanghai Gold Exchange.

Shanghai Gold Exchange Annual withdrawals 2008 - 2018

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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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