Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold Dips on the Week While Silver Rises Almost 3%
By: Chris Mullen, Gold Seeker Report

Taiga Launches Website, Sets Tentative CSE Trading Date
By: Eagle Plains Resources Ltd.

Economics 101: Who Sets Prices?
By: Alasdair Macleod

Silver Breakout Or Fakeout?
By: Mike Maloney and David Morgan

COT Gold, Silver and US Dollar Index Report - April 20, 2018
By: GoldSeek.com

Gold Nearing Bull Breakout
By: Adam Hamilton, CPA

Surmounting The Greatest Market Threat
By: Deepcaster

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

Turkey Takes Possession of 220 Tons of Gold Repatriated from Federal Reserve
By: Rory Hall

Black Monday II - Repricing of Risk Begins
By: Gordon T Long

 
Search

GoldSeek Web

 
Switzerland Gold Export China October 29t, +34% m/m


 -- Published: Tuesday, 24 November 2015 | Print  | Disqus 

By Koos Jansen

https://www.bullionstar.com/

First, withdrawals from the vaults of the Shanghai Gold Exchange (SGE), our best measure for Chinese wholesale gold demand, accounted for 49 tonnes in week 44 (9 – 13 November), up 9% from the previous week. Year to date SGE withdrawals have reached 2,259 tonnes, which is already more than any previous yearly total.

Shanghai Gold Exchange SGE withdrawals delivery 2015 week 44

Seasonally, SGE withdrawals are the highest around new year, therefore I expect them to increase from current levels before the end of 2015 – perhaps transcending 60 tonnes a week. Chinese people traditionally exchange gifts during new year and lunar year, often in the form of gold.

As SGE vaults have likely been depleted from July until September – after the crash in the Chinese stock market withdrawals skyrocketed – I don’t expect Chinese gold imports will decline until the January 2016. Year to date China has net imported 1,058 tonnes, according to lagging data released by various customs departments around the world.

The most recent data from Swiss customs points out there were 29 tonnes of gold shipped directly to China mainland in October, up 34 % m/m. Year to data (Jan – Oct) Switzerland has net exported 217 tonnes directly to China.

Switzerland China gold trade 2012 - oct 2015

A couple of years ago all net gold export from the UK (a large supplier of gold to the East) to China flowed via Switzerland or Hong Kong. Because the UK has started to export gold directly to China since 2014, Swiss gold exports to China have been somewhat decreasing.

Year to date (Jan – Sep) Hong Kong has net exported 582 tonnes directly to China.

Year to date (Jan – Sep) the UK has net exported 210 tonnes directly to China.

Year to date (Jan – July) Australia has net exported 49 tonnes directly to China.

Koos Jansen
E-mail Koos Jansen on: koos.jansen@bullionstar.com


| Digg This Article
 -- Published: Tuesday, 24 November 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.