Shanghai Gold Exchange volume for the week ended April 24, 2015.
The Shanghai Gold Exchange delivered 50.796 tons of gold during the last full week of April.
Total gold withdrawals on the Shanghai Gold Exchange year to date are about 781 tons.
The volume of gold delivered on the Shanghai Gold Exchange through the last full week of April 2015 is greater than the tonnage of the entire American Gold Eagle mintage from 1986-2014.
The Shanghai Gold Exchange has delivered a greater volume of gold in the first four months of April than the volume of American Gold Eagles minted from 1986-2014.
The Shanghai Gold Exchange continues to establish itself as viable competitor to the gold trading centers in London and Chicago and is one of the cornerstones of China’s de-dollarization/Yuan strengthening initiatives that also includes selling U.S. Treasuries and the creation of the Asian Infrastrucure Investment Bank.
China is widely believed to be making a play for inclusion in the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) Program later this year. If China fails to gain inclusion in the SDR, its recent initiatives to strengthen its currency and gain greater acceptance of the Yuan may provide a strong alternative to the IMF regime.
Volume of Gold Delivered on the Shanghai Gold Exchange
The Shanghai Gold Exchange delivered another 50 tons of gold for the week ended April 24, 2015.
Shanghai Gold Exchange Chart courtesy of Nick Laird.
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Further Reading:
Shanghai Gold Exchange Withdrawals (weekly archive)
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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