Shanghai Gold Exchange Withdrawals.
Shanghai Gold Exchange February withdrawals were 107.603 tonnes of gold.
February 2016 gold withdrawals were 31% lower compared to 156.363 tonnes withdrawn in February 2015.
Shanghai Silver Exchange February deliveries were 45.66 tonnes up from 33.695 tonnes in January.
Hong Kong gold kilobar withdrawals were fifty tonnes in February 2016 and 1,069 tonnes since March 2015.
Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE) withdrawals of 107.603 tonnes of gold during the month of February 2016 were down about 52.3% from withdrawals of 225.801 tonnes in January 2016 and down 31% from February 2015.
According to Nick Laird of Sharelynx*, the Shanghai Gold Exchange reported withdrawals on a monthly basis for February.
Shanghai Gold Exchange withdrawals in 2015 were 2,597 tonnes. Through February 2016, SGE withdrawals are 333.404 tonnes.
2015 Withdrawals vs. Prior Years
Withdrawals on the Shanghai Gold Exchange in 2015 were 23.5% higher than 2014 and 19.07% higher than prior record year 2013.
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COMEX Hong Kong Gold Kilobar Withdrawals Through March 3, 2016
The Chicago Mercantile Exchange futures contract for Hong Kong Kilobars has experienced withdrawals of an average of more than six tons of gold a day since it began in mid March 2015. As of March 3, 2016, over 1,069 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate of about 1,200 tonnes of gold a year.
2015 and November 2015 Shanghai Gold Exchange Withdrawals vs. COMEX 2015 Gold Deliveries
The chart below demonstrates the difference between the Shanghai Gold Exchange and the COMEX gold futures market. The former is a physical gold market while the latter is a paper/digital contract market where physical gold delivery is rarely made.
Just over 43 tonnes of gold were delivered on COMEX in 2015 (through November).
Average weekly Shanghai Gold Exchange withdrawals in 2015 were 49.94 tonnes vs 43.54 tonnes delivered all year on COMEX.
Shanghai Gold Exchange Gold Fix Coming in 2016
Later this year a new Yuan based gold fix with be launched via the Shanghai Gold Exchange.
*at Sharelynx you will find the most extensive collection of precious metals charts available on the web.
Data Source – All Shanghai Gold Exchange withdrawal data courtesy of Nick Laird of Sharelynx who sources it directly from the People’s Bank of China’s Chinese language web site.
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Shanghai Gold Exchange Data source GoldMinerPulse
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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