Shanghai Gold Exchanges Delivers 2000 Tonnes of Gold in 2014

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.

chart showing gold deliveries on the shanghai gold exchange through december 2014

The Shanghai Gold Exchange delivered 60 tons of gold during the week ended December 19, 2014, bringing the 2014 total to 2,016 tons.

Chart courtesey of Nick Laird of Sharelynx – the Gold Standard in Precious Metals Charts.

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

The Importance of Gold

Gold Supply and Demand

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 Gold

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

Gold, Silver and Real Estate

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