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

Gold Market Charts – June 2017

Thursday the 29th of June 2017
This monthly series analyses recent developments in the world’s largest physical gold markets such as India, China, Russia and Switzerland and features charts as diverse as Swiss gold imports and exports, Russian Federation gold reserves, Shanghai Gold Exchange physical gold withdrawals, and COMEX gold futures vault inventories. The featured charts have been created by the GOLD CHARTS R US market chart website.

Shanghai Gold Exchange (SGE) - Gold Withdrawals

Shanghai Gold Exchange (SGE) gold withdrawal data for the month of May was reported by the Exchange to have reached 138 tonnes. Note, these gold withdrawal figures refer to actual withdrawals of physical gold bars from the Exchange's vast vault network, and are a suitable proxy for estimating Chinese wholesale gold demand.

Shanghai Gold Exchange - Gold Withdrawals (tonnes), 2008 - end May 2017. Source:www.GoldChartsRUs.com Shanghai Gold Exchange - Gold Withdrawals (tonnes), 2008 - end May 2017. Source:www.GoldChartsRUs.com

For the year-to-date (end of May ~ Month 5), SGE gold withdrawals are now running at a cumulative 829 tonnes, which interestingly is very similar to cumulative SGE gold withdrawal totals recorded at the same point in 2016 and 2014. This suggests that total SGE gold withdrawals for the Year 2017 will be of the same magnitude as 2016 when they reached 1970 tonnes, or likewise 2014, when total withdrawals that year reached 2102 tonnes.

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