Shanghai Gold Exchange Withdrawals Week Ended November 27, 2015

Shanghai Gold Exchange Withdrawals.

Shanghai Gold Exchange withdrawals were 48.86 tonnes of gold during the week ended November 27, 2015.

Total gold withdrawals on the Shanghai Gold Exchange year to date are 2,362 tonnes.

Withdrawals pass 2013’s annual record of 2,197 tonnes by 165 tonnes.

Hong Kong gold kilobar withdrawals pass 806 tonnes in 2015.

Combined Shanghai Gold Exchange and Hong Kong Kilobar Withdrawals at 3,168 Tonnes Year to Date.

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Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) delivered 48.86 tonnes of gold during the week ended November 27, 2015. During prior trading week ended November 20, 2015, the SGE withdrawals were 54.06 tonnes of gold.

Year to Date Weekly Shanghai Gold Exchange Withdrawals Through November 27, 2015

Shanghai Gold Exchange withdrawals through November 27 2015

Shanghai Gold Exchange withdrawals are at 2,362 tonnes through the week ended November 27 2015.

2015 Year To Date Withdrawals vs. Prior Years

sge 2009-2015 november 27

Withdrawals on the Shanghai Gold Exchange are were running 30.3% higher than last year and 19.4% higher than prior record year 2013 through week 48.

COMEX Hong Kong Gold Kilobar Withdrawals Through December 2, 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 As of December 2, 2015, over 806 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate over 1,200 tonnes of gold a year.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, and November 27, 2015, were the largest days ever for COMEX Hong Hong Kilobar withdrawals with 22.176 tonnes and 21 tonnes withdrawn, respectively.

Hog Kong Kilo bar withdrawals as of December 2 2015

Comex Hong Kong gold kilo bar withdrawals have passed 806 tonnes since March 2015.

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.

Shanghai gold exchange vs comex deliveries 2015

Shanghai Gold Exchange withdrawals in October 2015, topped 2014 and 2015 (through October) COMEX deliveries.

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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.

Chinese gold reserves through October 2015

China added 14 tonnes of gold to its reserves in October bringing its total gold reserves to 1722 tonnes.

Chinese vs. Russian Gold Reserves

While China’s officially reported gold reserves have increased at an impressive pace in recent months, the central Bank of Russia has added 85% more gold to its reserves from August to October 2015.

The United States has not added any gold to its reserves in over a half a century.

Chinese and Russian gold reserves August - October2015

Russia added nearly twice as much gold as China to its reserves from August to October 2015.

top 10 gold holding nations 2015

China is the fifth largest gold holding nation in the world. Russia holds more gold than Swizerland and just 227 tonnes less than China.

To see the top forty gold holding nations click here.

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Shanghai Gold Exchange Data source GoldMinerPulse

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Further Reading:

Shanghai Gold Exchange Withdrawals (weekly 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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