Shanghai Gold Exchange Withdrawals.
Shanghai Gold Exchange withdrawals were 44.97 tonnes of gold during the week ended November 6, 2015./h2>
Total gold withdrawals on the Shanghai Gold Exchange year to date are 2,210 tonnes.
Withdrawals pass 2013’s annual record of 2197 tonnes.
Hong Kong gold kilobar withdrawals pass 714 tonnes in 2015.
Shanghai Gold Exchange
The Shanghai Gold Exchange (SGE) delivered 44.97 tonnes of gold during the week ended November 6, 2015. During prior trading week ended October 30, 2015, the SGE withdrawals were 46.57 tonnes of gold.
Year to Date Weekly Shanghai Gold Exchange Withdrawals Through November 6, 2015
Shanghai Gold Exchange withdrawals are at 2,210 tonnes through the week ended November 6, 2015.
2015 Year To Date Withdrawals vs. Prior Years
Withdrawals on the Shanghai Gold Exchange were running 29.4% higher than last year and 19.8% higher than record year 2013 through week 45.
COMEX Hong Kong Gold Kilobar Withdrawals Through November 11, 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 As of November 11, 2015, over 714 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate over 1,200 tonnes of gold a year.
Comex Hong Kong gold kilo bar withdrawals have passed 714 tonnes since March 2015 and passed 10 tonnes on two trading days in November so far.
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 withdrawals in October 2015, have topped 2014 and 2015 (through October) COMEX deliveries.
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.
China added 14 tonnes of gold to its reserves in October bringing its total gold reserves to 1722 tonnes.
To see the top forty gold holding nations click here.