This monthly chart wrap-up from BullionStar profiles a selection of charts from the GOLD CHARTS R US website so as to illustrate notable developments in gold demand, gold supply and physical gold movements across the world’s major gold markets. Charts covered below include Swiss gold trade flows, Russian gold reserve changes, and Chinese gold demand.
For BullionStar’s own gold and silver price charts, see BullionStar’s website under the Charts menu, where, for example, currencies, equity market indices and commodities can be charted and measured in terms of gold, silver, and other precious metals.
Shanghai Gold Exchange (SGE) – Gold Withdrawals The below chart features monthly physical gold withdrawals from the Shanghai Gold Exchange (SGE). Given that all gold imported into China and most gold mined and recycled in China passes through the vaults of the SGE, the monthly gold withdrawals from the SGE serve as a useful proxy for overall monthly Chinese wholesale gold demand. Note that SGE gold withdrawals most probably do not reflect gold purchases by the People’s Bank of China (PBoC) since the PBoC is not thought to buy any gold at the SGE, preferring instead to purchase gold in international gold market centres such as London.
This post was published at Bullion Star on 27 Mar 2017.
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