BullionStar News
Writers Torgny Persson, Koos Jansen
& Hong Kang See

Gold Market Charts – May 2018

Tuesday the 22nd of May 2018
BullionStar's  'Gold Market Charts' is a series of articles covering topical developments in the world's major physical gold markets. These topics include sovereign gold reserve accumulation by Russia and China, gold demand in the wider Chinese gold market, Swiss gold imports and exports, and gold flows into and out of the London Gold Market. The analysis uses gold charts made available by the GOLD CHARTS R US market charting website.

For BullionStar’s own extensive price charts, see BullionStar's website under the Charts menu, where, for example, currencies, cryptocurrencies, stock market indices and commodities can be charted and measured in terms of gold, silver, and other precious metals.

SGE Gold Withdrawals

It is now a more or less accepted fact in the global gold market that physical gold withdrawals from the Shanghai Gold Exchange (SGE) are a suitable proxy for overall wholesale Chinese gold demand. In other words, SGE gold withdrawals are a suitable proxy for gold demand in the domestic Chinese market.

Why this is so is related to the structure of the Chinese Gold Market, where mined gold, imported gold, and scrap gold either is obliged to be sold through the SGE, or is incentivised to be sold through the SGE. See "Mechanics of the Chinese Domestic Gold Market" for more details.

SGE Gold Withdrawals April 2018: 212 tonnes. Source: ... Continue Reading
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