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BullionStar Blogs

BullionStar is renowned for presenting original research and expertise
covering the most important trends in the precious metals markets.

Gold Meeting Nixon & Pompidou 1971, Azores

Gold Meeting Nixon & Pompidou 1971, Azores

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  • author Koos Jansen

President of France Georges Pompidou, President of the United States Richard Nixon and National Security Advisor of the United States Henry Kissinger met on December 13 and 14, 1971, at the Azores to negotiate the value (rigging) of gold and all other major currencies in the world at the time. Three months prior to the … Continue Reading arrow

Spotlight on Greece’s Gold Reserves and Grexit

Spotlight on Greece’s Gold Reserves and Grexit

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  • author Ronan Manly
  • comments 2 Comments

With the Greek Government and the Troika back in the news right now, it’s a good time to take a look at Greece’s official gold reserves and examine how much gold Greece claims to hold, where this gold might be located, and explore the impact that the European bailouts or a Greek Euro exit might have … Continue Reading arrow

SGE Withdrawals 59t in week 6, YTD 374t: Chinese Gold Soap Extended Another Season

SGE Withdrawals 59t in week 6, YTD 374t: Chinese Gold Soap Extended Another Season

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  • author Koos Jansen

The latest numbers from the Shanghai Gold Exchange (SGE) demonstrate a little over 59 tonnes have been withdrawn from the vaults in week 6 of 2015, down 0.35 % w/w. SGE withdrawals, which are often used as a proxy for Chinese wholesale gold demand, account for an amazing 374 tonnes year to date, up 17 … Continue Reading arrow

Willem Middelkoop: A New Gold Standard In The Making

Willem Middelkoop: A New Gold Standard In The Making

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  • author Koos Jansen

Written by Willem Middelkoop “Putin is the biggest gold bug”, was the title of a recent Bloomberg op-ed by Leonid Bershidsky the founding editor of Vedomosti, Russia’s top business daily. He explains why the Russian central bank has accumulated almost 100 tons of gold in the last four months of 2014. It is an acceleration … Continue Reading arrow

Koos Jansen vs WGC/GFMS/CPM Update

Koos Jansen vs WGC/GFMS/CPM Update

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  • author Koos Jansen

Recently Thomson Reuters GFMS released its global gold demand figures for 2014 in which they stated Chinese demand was 866 tonnes. I briefly expanded on why I didn’t agree with this number by a humongous margin in my post from January 30 – as Chinese supply was at least 1,834 tonnes. Followed by a post released January … Continue Reading arrow

The IMF’s Gold Depositories – Part 2, Nagpur and Shanghai, the Indian and Chinese connections

The IMF’s Gold Depositories – Part 2, Nagpur and Shanghai, the Indian and Chinese connections

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  • author Ronan Manly
  • comments 1 Comments

Part 1 of the IMF’s Gold Depositories series explained the legal background as to why the IMF originally made the decision to hold gold at the Federal Reserve Bank of New York, the Bank of England, the Banque de France and the Reserve Bank of India. See Part 1 for details, but as a quick … Continue Reading arrow

SGE Withdrawals 59t in Week 5, YTD 315t. What is China Up To With All This Gold?

SGE Withdrawals 59t in Week 5, YTD 315t. What is China Up To With All This Gold?

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  • author Koos Jansen

The day after the World Gold Council (WGC) released Gold Demand Trends Full Year 2014 in which they audaciously pretend Chinese gold demand last year was 814 tonnes, we can read from the Chinese SGE trade report of week 5 withdrawals from the vaults have been 59 tonnes. Year to date (– February 6) withdrawals … Continue Reading arrow

Is The $/Yen About To Take A Swan Dive?

Is The $/Yen About To Take A Swan Dive?

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  • author Koos Jansen

When I looked at the chart of the $/Yen I recognized the formation immediately. Here is the current chart of $/Yen. Notice the breakout to the upside of a flat-bottomed triangle. Now where did we see something similar? This is a chart of GLD going back five years. Notice how GLD topped, formed a flat … Continue Reading arrow

The Keys to the Gold Vaults at the New York Fed – Part 3: ‘Coin Bars’, ‘Melts’ and the Bundesbank
Second Thoughts On US Official Gold Reserves Audits

Second Thoughts On US Official Gold Reserves Audits

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  • author Koos Jansen

This post is a sequel to “A First Glance At US Official Gold Reserves Audits”. What is not often covered in the media or blogosphere are the audits of the US official gold reserves stored at the US Mint, which is the custodian for 95 % (7716 tonnes) of the stash – nowadays also referred … Continue Reading arrow

Total SGE Withdrawals 255t In January, Up 4 % y/y

Total SGE Withdrawals 255t In January, Up 4 % y/y

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  • author Koos Jansen

In the last trading week of January another huge quantity of gold left the vaults of the Shanghai Gold Exchange (SGE). According to the latest SGE data nearly 54 tonnes were withdrawn in week 4 (January 26 – 30), down 24 % w/w. Year to date a staggering 255 tonnes has been withdrawn, up 4 … Continue Reading arrow

Belgium Denies To Repatriate Gold From The UK

Belgium Denies To Repatriate Gold From The UK

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  • author Koos Jansen

Belgian newspaper Het Nieuwsblad was reporting on Wednesday Belgium will repatriate 200 tonnes of gold from the Bank Of England (BOE). De Tijd is now stating the opposite, quoting the governor of the Belgian Central Bank (NBB) Luc Coene: The repatriation from the UK is not true…. There are other and more effective ways to … Continue Reading arrow

Press Release – Gold Bars traded without spread – A world’s first!
GFMS Reports Chinese Gold Trade Volume Incorrect By 100%

GFMS Reports Chinese Gold Trade Volume Incorrect By 100%

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  • author Koos Jansen

Thomson Reuters GFMS, one of the leading consultancy firms regarding precious metals supply and demand data has recently released the GFMS Gold Survey 2014 – Update 2. From the report: Thomson Reuters’ supply and demand data are collected and collated by our team of research analysts based in Australia, China, Europe, India and the USA within … Continue Reading arrow

Federal Reserve New York Gold Withdrawal Numbers 2014 Don’t Match Dutch-German Repatriation Claims
BOOM: SGE Withdrawals Week 3, 2015: 71 tonnes!

BOOM: SGE Withdrawals Week 3, 2015: 71 tonnes!

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  • author Koos Jansen

As I wrote last time on data from the Shanghai Gold Exchange (SGE), in week 2 of 2015 withdrawals from the vaults of the SGE (that equal Chinese wholesale demand) came in extremely high at 70 tonnes; the third highest amount ever. In week 3 (January 19 – 23), though, the Chinese withdrew even more at … Continue Reading arrow

The IMF’s Gold Depositories – Part 1, The Legal Background
The Keys to the Gold Vaults at the New York Fed – Part 2: The Auxiliary Vault

The Keys to the Gold Vaults at the New York Fed – Part 2: The Auxiliary Vault

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  • author Ronan Manly
  • comments 11 Comments

The FRBNY’s Auxiliary Vault As mentioned in Part 1 of Keys to the Gold Vaults at the New York Fed, there are two gold vaults at the New York Fed, the main vault and the auxiliary vault. Very little is written anywhere about the FRBNY’s auxiliary vault, or the ‘aux vault’ as it has sometimes been … Continue Reading arrow

Netherlands Did Not Increase Gold Holdings In December

Netherlands Did Not Increase Gold Holdings In December

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  • author Koos Jansen

Many newswires are reporting the Dutch central bank has increased its gold holdings by 10 tonnes in December 2014. However, the increase in holdings is not shown on the balance sheet of the central bank of the Netherlands. Just a moment ago the Dutch central bank (DNB) officially denied the increase of its precious metals holdings. … Continue Reading arrow

India Silver Import 2014 At 7,063 Tonnes, Up 15 %
Booming SGE withdrawals In Week 2, 2015: 70 Tonnes

Booming SGE withdrawals In Week 2, 2015: 70 Tonnes

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  • author Koos Jansen

Withdrawals from the vaults of the Shanghai Gold Exchange (SGE) in week 2 of 2015 (12 – 16 January) accounted for an incredible 70 metric tonnes. Aggregated withdrawals in the first two weeks of this year stand at 131 tonnes. Corrected by the volume traded on the Shanghai International Gold Exchange (SGEI), withdrawals in week … Continue Reading arrow

Will Gold Be Part Of A New International Monetary System?
The Keys to the Gold Vaults at the New York Fed – Part 1

The Keys to the Gold Vaults at the New York Fed – Part 1

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  • author Ronan Manly
  • comments 10 Comments

Over time, the Federal Reserve Bank of New York (FRBNY) has become increasingly less transparent in sharing information about its Manhattan gold vaults. I use gold vaults in the plural because there are two gold vaults at the New York Fed’s headquarters, namely, the main vault and the auxiliary vault. During the 1970s, New York … Continue Reading arrow

Germany Repatriates 120 Tonnes Of Gold In 2014

Germany Repatriates 120 Tonnes Of Gold In 2014

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  • author Koos Jansen

The central bank of Germany, BuBa, has just released the numbers of their gold repatriation activities in 2014. More than expected the Germans shipped home 85 tonnes of gold from the Federal Reserve Bank of New York (FRBNY), previously BuBa hinted at withdrawing 30 to 50 tonnes from New York in 2014, from France 35 tonnes … Continue Reading arrow

Guest Post: I have a Theory On The Swiss Franc

Guest Post: I have a Theory On The Swiss Franc

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  • author Koos Jansen

I have had a theory about markets for as long as I have watched gold. The theory is everything is about gold. Well, maybe not everything but close enough. Which is why the move by the SNB had me look at the charts. And those charts tell me a story that is very different from … Continue Reading arrow

China Continues To Drain Global Gold Inventory

China Continues To Drain Global Gold Inventory

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  • author Koos Jansen

Withdrawals from the Shanghai Gold Exchange (SGE), the best indicator for Chinese wholesale demand, have been strong in 2014. In total 2,102 tonnes was loaded out from the SGE vaults. Mid 2014 withdrawals were relatively low, then they ramped up in September. In this post we’ll examine where this gold was sourced from. At this … Continue Reading arrow

Chinese Lunar Year Gold Buying At Full Steam: 61t Withdrawn From SGE Vaults In 1 Week

Chinese Lunar Year Gold Buying At Full Steam: 61t Withdrawn From SGE Vaults In 1 Week

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  • author Koos Jansen

As I mentioned last week, January is the time of the year for the Chinese to buy golden gifts for their love ones. And that is exactly what they are currently doing en masse, according to the latest data from the Shanghai Gold Exchange (SGE). An astonishing 61 tonnes have been withdrawn from the vaults in … Continue Reading arrow

Wikileaks 1976: PBOC Focussed On Gold & SDR’s

Wikileaks 1976: PBOC Focussed On Gold & SDR’s

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  • author Koos Jansen

Another piece of the puzzle. The next Wikileaks cable is a summary of a meeting that took place in October 1976 between, among others, chairman of the Federal Reserve, Arthur Burns, and a delegation of Chinese bankers from the PBOC. For the record, this was five years after Nixon suspended US dollar convertibility into gold and one month after … Continue Reading arrow

We Can Not Pretend Forever Gold Is Worth $42.22

We Can Not Pretend Forever Gold Is Worth $42.22

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  • author Koos Jansen

The lawful owner of the 8,134 tonnes of official gold holdings of the United States is the US Treasury. The Federal Reserve handed over the official gold reserves to the Treasury in 1934 and in return received gold certificates – which, by the way, are not redeemable for gold, only for dollars, but that’s not … Continue Reading arrow

Chinese Lunar Year Gold Buying Frenzy Started

Chinese Lunar Year Gold Buying Frenzy Started

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  • author Koos Jansen

Every year around January first the Chinese ramp up gold buying at retail level to an unprecedented pace (click, click and click to read about the buying spree last year). The Chinese calendar (Lunar Year) is slightly different than the Western (Gregorian) calendar. In China new year will be celebrated on February 19, 2015, this time to begin the year … Continue Reading arrow

The Turkish Gold Standard, Part 1

The Turkish Gold Standard, Part 1

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  • author Koos Jansen

One the most interesting gold markets around, but least talked about, is the Turkish gold market. The Turkish people have a strong tradition that goes back thousands of years to save in physical gold and it’s estimated 5,000 tonnes of gold are owned privately. Additionally, the Turkish central bank (CBRT) has implemented a model in … Continue Reading arrow

Yearly Shanghai Silver Volume Transcends COMEX Again, SGE Withdrawals Nearly 2,100t
The Netherlands Planned To Introduce New Currency In 2012

The Netherlands Planned To Introduce New Currency In 2012

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  • author Koos Jansen

The Netherlands (and likely Germany as well) made concrete plans in 2012 to switch to a new currency in case the euro would crash. Not long after the emergency currency was ready the Dutch began repatriating 122.5 tonnes of gold from New York. This can be very important as there is a possibility the Eurocrisis will ignite again. Monday … Continue Reading arrow

Federal Reserve Bank New York Lost 47t Of Gold In November

Federal Reserve Bank New York Lost 47t Of Gold In November

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  • author Koos Jansen

The number we all have been waiting for; The Federal Reserve Bank of New York (FRBNY), which is the custodian for parts of the official gold reserves of 36 nations and the IMF, e.g. The Netherlands and Germany, saw its inventory of foreign gold deposits drop by 47 tonnes in November 2014. Year to date … Continue Reading arrow

Gold Chat About The Chinese Gold Lease Market

Gold Chat About The Chinese Gold Lease Market

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  • author Koos Jansen

As some of you may have noticed Bron Suchecki, manager at the Perth Mint and publisher of the Goldchat blog, wrote a critical article about my recent post on the Chinese gold lease market. Firstly I would like to thank him for the work he does writing critical articles on blogs in the gold space that have lost touch with … Continue Reading arrow

BullionStar – First company in Singapore to pay employees in Gold and Silver!

BullionStar – First company in Singapore to pay employees in Gold and Silver!

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  • author Torgny Persson
  • comments 0 Comments

BullionStar is the first employer in Singapore to pay employees in Gold and Silver! View Channel News Asia’s coverage featuring BullionStar’s CEO, Mr. Torgny Persson and Sales Manager Mr. Vincent Tie. The press release can be read here. Continue Reading arrow

Turd Ferguson Interviews Koos Jansen

Turd Ferguson Interviews Koos Jansen

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  • author Koos Jansen

Turd Ferguson interviewed me last Thursday (October 9, 2014), a conversation worth sharing because we talked about a lot of subjects, like Chinese gold demand (government demand and non-government demand), the Shanghai Gold Exchange, the PBOC, the SDR, the IMF, the Turkish gold market, the Chinese silver market, etc. There were of course a thousand things I … Continue Reading arrow

China Buys 45t Of Gold Ahead Of Golden Week

China Buys 45t Of Gold Ahead Of Golden Week

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  • author Koos Jansen

The National Day Golden Week, a one week holiday in China mainland, yes, the Chinese name their holidays golden, began on October 1 this year, so that’s when trading stopped on the Shanghai Gold Exchange (SGE) and Shanghai Futures Exchange (SHFE). This means I only have half a story for you today. The latest withdrawal data from the SGE always … Continue Reading arrow

Confirmation PBOC Doesn't Purchase Gold Through SGE

Confirmation PBOC Doesn't Purchase Gold Through SGE

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  • author Koos Jansen

Last week I wrote Scotiabank had released an unveiling report on Chinese gold demand, written by Na Liu of CNC Asset Management Ltd.. In the report Na stated what I’ve been publishing for over a year: the amount of gold withdrawn from the vaults of the Shanghai Gold Exchange equals Chinese wholesale gold demand. This report put a little smile on my … Continue Reading arrow

New York Fed Gold Stock Tumbles 15 Tonnes In August

New York Fed Gold Stock Tumbles 15 Tonnes In August

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  • author Koos Jansen

Could it be sie Germans? Every month the Federal Reserve bank of New York (FRBNY) publishes the amount of gold it holds in custody for 36 foreign central banks and the IMF. After a significant drop in July of 24 tonnes, 15 tonnes were withdrawn from the vaults in August. Germany is the only country, that I’m aware of, … Continue Reading arrow

Chinese Gold Demand Explosive

Chinese Gold Demand Explosive

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  • author Koos Jansen

Whilst western media are still under the assumption Chinese gold demand is declining, based on data from the World Gold Council and net gold export from Hong Kong to China mainland, in reality demand is extremely strong. As I’ve previously written, the lower the price of gold will go the more physical gold will be purchased by … Continue Reading arrow

Workings Of The Shanghai International Gold Exchange

Workings Of The Shanghai International Gold Exchange

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  • author Koos Jansen

This post is part of the Chinese Gold Market Essentials series. Click here to go to an overview of all Chinese Gold Market Essentials for a comprehensive understanding of the largest physical gold market globally. This post was updated in late 2017. “This event is a major milestone in China’s opening of its financial market to foreign investors. The … Continue Reading arrow

Chinese Gold Demand 41t in week 37, 1331t YTD
Chinese Gold Demand 39t In Week 36, YTD 1290t

Chinese Gold Demand 39t In Week 36, YTD 1290t

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  • author Koos Jansen

Robust Chinese gold demand is keeping up its pace. Chinese wholesale demand, measured by withdrawals from the Shanghai Gold Exchange vaults, was 39 tonnes in week 36 (September 1 – 5). Year to to date 1290 tonnes has been withdrawn from the SGE vaults. Blue is weekly withdrawals in Kg, Green is withdrawals year to date … Continue Reading arrow

Another Week Of Strong Gold Demand In China

Another Week Of Strong Gold Demand In China

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  • author Koos Jansen

Silver remains scarce in Shanghai Shanghai Gold After a very strong week from August 18 to 22, in which SGE withdrawals accounted for 46 tonnes, the sequential week was nearly as strong; in between August 25 and 29 withdrawals from the SGE vaults accounted for 42 tonnes. Year to date 1251 tonnes has left the … Continue Reading arrow

Introducing the 2015 Perth Mint Lunar Series coins

Introducing the 2015 Perth Mint Lunar Series coins

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  • author Torgny Persson
  • comments 0 Comments

The 2015 Australian Lunar Silver Goat is now available in stock for immediate delivery.The Chinese Lunar Calandar The ShengXiao, is known in English as the Chinese Zodiac. The Chinese zodiac is a system that relates each year to an animal according to a repeated 12-year cycle. It is based on the ancient 12-year Chinese Lunar … Continue Reading arrow

Chinese Weekly Gold Demand Highest Since February
Mr Torgny Persson, CEO of Bullionstar Pte Ltd interviewed by Channel NewsAsia on 28 August 2014!

Mr Torgny Persson, CEO of Bullionstar Pte Ltd interviewed by Channel NewsAsia on 28 August 2014!

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  • author Torgny Persson
  • comments 0 Comments

Mr Torgny Persson, CEO of BullionStar Pte Ltd gave his views on Channel News Asia 28 August on the reason why gold and silver is valuable and why it is better to own gold than diamonds as the pricing of gold and silver is more transparent. Continue Reading arrow

Chinese Gold Demand 1163 MT YTD. Silver Surprise

Chinese Gold Demand 1163 MT YTD. Silver Surprise

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  • author Koos Jansen

Withdrawals from the Shanghai Gold Exchange (SGE), which equal Chinese wholesale demand, accounted for 35 metric tonnes in week 33 (August 4 – 8). Up 7.25 % w/w, additionally the largest amount withdrawn in 8 weeks. Year to date 1163 tonnes have been withdrawn, for which I estimate 723 tonnes had to be net imported … Continue Reading arrow

India Imports 2559 MT Silver In 5 Months

India Imports 2559 MT Silver In 5 Months

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  • author Koos Jansen

“Rupee" comes from r?pya, a Sanskrit term for silver coin While silver has been widely used as money in history, at the beginning of the 19th century gold became the dominant metal in trade. At the end of the 19th century central banks erupted around the world and began holding gold in reserve to back their currencies, … Continue Reading arrow

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