Chinese Gold Demand 559 MT YTD, Up 16 %

by In Gold We trust

Overview Shanghai Gold Exchange data 2014 week 13 - 36 metric tonnes withdrawn in week 13 (24-03-2014/28-03-2014) - w/w + 0.66 % - 559 metric tonnes withdrawn year to date My research indicates that SGE withdrawals equal Chinese wholesale gold demand. For more information read this This is a screen shot from the weekly Chinese SGE trade report; the second number from the left (blue – 本周交割量) is weekly gold withdrawn from the vaults in Kg, the second number from the right (green – 累计交割量) is the total YTD. This chart shows SGE gold premiums based on data from the SGE weekly reports (it’s the difference between the SGE gold price in yuan and the international gold price in yuan). It seems as if the change of the premiums on the SGE are the inverse of the direction of the price of gold. Below is a screen shot of the premium section of the SGE weekly report; the first column is the date, the third is the international gold price in yuan, the fourth is the SGE price in yuan, and the last is the difference.

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