The Shanghai Gold Exchange
Total Gold Delivered on the Shanghai Gold Exchange in 2014 Passes 2000 Tonnes.
The Shanghai Gold Exchange delivers 60.657 tonnes of gold for the week ended December 19.
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The volume of gold delivered on the Shanghai Gold Exchange since 2009 reaches 7,827 tons.
The amount of gold delivered on the Shanghai Gold Exchange (SGE) for the week ended December 19 was 60.657 tons up from 50.028 tons for the week ended December 12. The SGE has delivered 2016 tons of gold through the first 51 weeks of 2014. Two thousand tons is equal to nearly half of the annual global gold mining production of which China itself produces over 400 tons.
The Shanghai Gold Exchange delivered 60 tons of gold during the week ended December 19, 2014, bringing the 2014 total to 2,016 tons.
RIC (Russia, India and China) is The Largest Gold Buying Group in the World
Demand coming from Russia, India and China continues unabated. Russia added another 600,000 ounces of gold (18.7 tons) to its reserves in November bringing their total to over 150 tons added in 2014.
Meanwhile, India has regained the title of the world’s number one gold consumer, passing China in the wake of removing some gold import restrictions that has resulted in a surge of gold imports to the sub continent.
China continues to be the world’s number one gold producer.
If RIC continues buying gold at its current furious pace, global gold demand in 2015 will surpass 2014’s gold demand – even without any increase in gold demand from the United States.
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Further Reading:
The Shanghai Gold Exchange Delivers 50 tons of Gold in the week ended December 12, 2014
Shanghai Gold Exchange on Track to Deliver 2000 Tons of Gold in 2014
October 2014 Shanghai Gold Exchange
The Rise of the Shanghai Gold Exchange
Chinese Gold Mining Production
China Hoards its Gold Production
The Importance of Silver to China
Gold and Silver Price Manipulation – Suspected (Pt 1)
Gold and Silver Price Manipulation – Actual (Pt 2)
Top Foreign Holders of U.S. Treasuries
Gold Reserves by Country – Top 20
The West Sells Paper Gold While the East Buys Physical Gold
Gold Continues to Move West To East
How To Buy Silver
Think the Fed Destroyed the Dollar
LBMA Speech re The Shanghai Gold Exchange
China Hoards its Gold Production and Becomes the World’s #1 Producer and Importer of Gold
Gold Continues to Move West To East
Eric Sprott- Connecting the Dots
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