Shanghai Gold Exchange Withdrawals Week Ended March 27, 2105

The Shanghai Gold Exchange.

Gold Withdrawals on the Shanghai Gold Exchange.

The Shanghai Gold Exchange delivered 45.719 tonnes of gold during the week ended March 27, 2015.

Withdrawals of gold on the Shanghai Gold Exchange are about 610 tonnes to date in 2015; up 9% from 2014 year to date.

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Shanghai gold exchange withdrawals compared to global gold mining production

The Shanghai Gold Exchange delivers a large portion of the annual global gold mining production.

Chinese Gold Mining Production

Chinese mining production chart

China is the world’s largest gold mining country with mining production over 400 tons a year, none of which they export.

Gold Supply and Demand

Annual gold mining supply is considered to be around 2,600 tons a year and secondary supply from scrap about 1,100 tons a year*. Supply deficits are made up from existing stocks of which, accoding to the World Gold Council there are 177,200 tons of gold in existence above ground.

gold supply and demand chart

The gold supply and demand dynamic according to the CPM group was in balance in 2015.

Volume of Gold Delivered on the Shanghai Gold Exchange

Here is Nick Laird’s weekly chart showing Shanghai Gold Exchange gold withdrawals:

shanghai gold withdrawals for the week ended march 27 2015 chart

Withdrawals of gold on the Shanghai Gold Exchange for the week ended March 27, 2015 were 45.719 tons.

*Gold Mining Production and Secondary Supply Source:2014 Gold Year Book published by CPM Group

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Further Reading:

Shanghai Gold Exchange Withdrawals (weekly archive)

Gold Supply and Demand

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

Gold Supply and Demand

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