Shanghai Gold Exchange Withdrawals Week Ended October 16, 2015

Shanghai Gold Exchange Withdrawals.

Shanghai Gold Exchange withdrawals were 53.414 tonnes of gold during the week ended October 16, 2015.

Total gold withdrawals on the Shanghai Gold Exchange year to date are 2,062 tonnes.

Through week 42 withdrawals on the Shanghai Gold Exchange were running 33.3% higher than last year.

Hong Kong gold kilobar withdrawals pass 635 tonnes in 2015.

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Shanghai Gold Exchange

The Shanghai Gold Exchange (SGE) delivered 53.414 tonnes of gold during the week ended October 16, 2015. During prior trading week ended October 9, 2015, the SGE withdrawals were 50.895 tonnes of gold.

Year to Date Weekly Shanghai Gold Exchange Withdrawals Through October 16, 2015

Weekly Shanghai Gold Exchange withdrawals through October 16, 2015

Shanghai Gold Exchange withdrawals are at 2,062 tonnes through the week ended October 16, 2015.

COMEX Hong Kong Gold Kilobar Withdrawals Through October 21, 2015

The Chicago Mercantile Exchange futures contract for Hong Kong Kilobars has experienced withdrawls of an average of more than five tons of gold a day since it began in mid March earlier this year. As of October 21, 2015, over 635 tonnes of gold have been withdrawn pursuant to this program since March 2015 for an annualized run rate over 1,200 tonnes of gold a year.

hong kong kilo bar withdrawals October 21, 2015 chart

Comex Hong Kong gold kilo bar withdrawals have passed 635 tonnes since March 2015 and passed 10 tonnes on five trading days in October so far.

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 (see chart below), China has been adding gold. Earlier this month, China reported that they had added fifteen tons of gold to their reserves in September.

Chinese gold reserves as of September 2015 chart

Chinese gold reserves grew by 15 tonnes in September.

Chart of top 20 gold holding nations as of October 2015

According to the World Gold Council, China holds the fifth most gold of any nation. China added fifteen tons of gold in September that are not included in the chart above.

Many suspect that China has far more gold than they have reported.

Click here for an explanation on where China’s gold might be.

Chinese President Xi Jinping recently confirmed the practice of moving the People’s Bank of China’s reserve assets to other entities in China: “some assets in foreign exchanges were transferred from the central bank to domestic banks, enterprises and individuals” This might explain where some of China’s gold hoard, that many suspect they posses but have not reported as reserves, may be located.

How does all that gold get to China?

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Shanghai Gold Exchange Data source GoldMinerPulse

Buy American Gold Buffalo Coins

Further Reading:

Shanghai Gold Exchange Withdrawals (weekly 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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