Shanghai Gold Exchange Withdrawals.
Shanghai Gold Exchange withdrawals were 48.98 tonnes of gold during the week ended November 13, 2015./h2>Total gold withdrawals on the Shanghai Gold Exchange year to date are 2,259 tonnes.
Withdrawals pass 2013’s annual record of 2197 tonnes.
Hong Kong gold kilobar withdrawals pass 753 tonnes in 2015.
Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE) delivered 48.98 tonnes of gold during the week ended November 13, 2015. During prior trading week ended November 6, 2015, the SGE withdrawals were 44.97 tonnes of gold.
Year to Date Weekly Shanghai Gold Exchange Withdrawals Through November 13, 2015
2015 Year To Date Withdrawals vs. Prior Years
COMEX Hong Kong Gold Kilobar Withdrawals Through November 18, 2015
The Chicago Mercantile Exchange futures contract for Hong Kong Kilobars has experienced withdrawls of an average of more than six tons of gold a day since it began in mid March earlier this year. As of November 18, 2015, over 753 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate over 1,200 tonnes of gold a year.
November 12, 2015 was the largest day ever for COMEX Hong Hong Kilobar withdrawals with 22.176 tonnes.
October 2015 Shanghai Gold Exchange Withdrawals vs. COMEX 2014 and 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 a is paper/digital contract market where physical gold delivery is rarely made.
China Updates its Gold Holdings
In July 2015, China announced their first update to their official gold holdings since 2009. The People’s Bank of China announced that their gold holdings had climbed from 1054 tons to 1658 tons, making China the fifth largest gold holding nation in the world.
China chose to incude six years worth of gold accumulation (over 600 tons) all in the month of June.
In August 2015, China reported that they added 19.3 tons (610,000 ounces) of gold to their reserves in July bringing their total to 1,677 tons (53.93 million ounces). In September 2015, the China updated their August gold reserves, indicating that they had added 16 tonnes of gold to their reserves, bringing their total to over 1693 tonnes.
Despite an overall decrease in its reserves in September, China has been adding gold. In October, China reported that they had added fifteen tons of gold to their reserves in September. Earlier this month, China reported they had added fourteen tons of gold to their reserves.
To see the top forty gold holding nations click here.
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Shanghai Gold Exchange Data source GoldMinerPulse
Further Reading:
Shanghai Gold Exchange Withdrawals (weekly 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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