Koos Jansen
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Koos Jansen

This Is What The AIIB Is About

Until March 31 countries can submit for membership of the Asian Investment Infrastructure Bank (AIIB), a financial institution proposed by China, which has the purpose of being a multilateral framework to finance infrastructure projects in the wide Eurasian region. In recent weeks many Western countries have submitted for membership, the US rejected application as it fears... Continue Reading

When Will China Disclose Its True Official Gold Reserves And How Much Is It?

Things are heating up in the Chinese gold market First let’s go through the latest Shanghai Gold Exchange data and then we’ll continue to discuss the most recent developments regarding Chinese official gold reserves. Friday the Shanghai Gold Exchange (SGE) released its trade report of week 11, 2015 (March 16 – 20). Withdrawals from the vaults, which equal Chinese... Continue Reading

Euronews: If China Joins The New Gold Fix, There’ll Be Less Manipulation

On March 24, 2015, Euronews broadcasted Business Middle East, in which Nour Al Hammoury from ADS securities, stated that if Chinese banks would join the new gold fix it would be less sensitive for manipulation. Having Chinese banks participate in the fix, would indeed be very welcome. If you like to read more about if Chinese banks will participate in the new fix... Continue Reading

The Largest Gold Mints Of The World

The most recent data available suggests the US Mint is currently the largest mint on the planet in terms of production output, having produced 4.54 tonnes of gold in Eagles and Buffalos year to date (January and February 2015). The largest gold mints of the world are the Turkish State Mint, Chinese Mint, South African Mint, US Mint, Perth Mint (Australia), Royal Canadian... Continue Reading

Indian Gold Import Exploding In March

March has not even ended, though preliminary data indicates India has already imported over 130 tonnes of gold this month. A conservative estimate suggests total gross import can reach 150 tonnes of gold this month. Because of a "current account deficit" the Indian government decided in March 2012 to raise to import duty on gold from 2 % to 4 %, in June 2013 from 4 % to 8%... Continue Reading

Will The Shanghai International Gold Exchange Facilitate Gold Inclusion Into The SDR?

The Shanghai International Gold Exchange (SGEI) was launched in September 2014, to internationalize the Chinese gold market and the renminbi. The timing of the launch is quite remarkable though, in the context of changes in the international monetary system (IMS). 2015 is likely to force a major shift in the IMS. Two developments are worth watching, the SDR basket will be... Continue Reading

Xinhua: China And Germany Deepen Financial Cooperation, Germany Joins AIIB And Supports RMB Inclusion Into SDR

Guest Post BERLIN, March 17 (Xinhua) -- China and Germany conducted their first high-level financial dialogue here on Tuesday and agreed to strengthen macro-economic policy coordination, develop policy dialogue and pragmatic cooperation in fiscal and financial areas. Representing China at the first China-Germany High Level Financial Dialogue, Chinese Vice Premier Ma Kai... Continue Reading

SGE Withdrawals 51t In Week 10, YTD 508t.

Withdrawals from the Shanghai Gold exchange (SGE), which equal Chinese wholesale gold demand, in week 10 (March 9 – 13) accounted for 51 tonnes. Year to date total withdrawals have reached 508 tonnes. Chinese wholesale gold demand can be slightly less than what is disclosed because of withdrawals from the Shanghai International Gold Exchange. My best estimate is SGE... Continue Reading

UN Preparing For Global Sovereign Debt Restructuring

An open letter to all pension funds  The United Nations (UN) is preparing a Multilateral Legal Framework for Debt Restructuring Processes. At the highest level an orderly sovereign debt restructuring for developed countries is designed. As I’ve stated before on these pages, effectively the only thing Quantitative Easing (QE) can buy is time. Since 2008 our monetary... Continue Reading

SGE Withdrawals In Perspective

Chinese gold market essentials In 2014 SGE withdrawals, which can be used as a proxy for Chinese wholesale gold demand, have lost their accuracy since the Shanghai International Gold Exchange (SGEI) was launched in September, providing foreign enterprises to trade gold in renminbi, take delivery and export the gold from the Shanghai Free Trade Zone (FTZ). SGE and SGEI... Continue Reading

China, Gold, SDRs And The Future Of The International Monetary System

Possibly China’s national currency will be part of the IMF’s Special Drawing Rights (SDR) this year. If so, this would have substantial implications for the international monetary system. Currently the SDR, which was invented in 1969 right after the London Gold Pool collapsed, consists of US dollars (41.9 %), Euros (37.4 %), Pound sterling (11.3 %) and the Japanese yen... Continue Reading

SGE Withdrawals 45t Week 9, YTD 456t

Chinese wholesale gold demand, that equals withdrawals from the vaults of the Shanghai Gold Exchange (SGE), accounted for 45 metric tonnes in week 9 of 2015 (March 2 – 6). Year to date 456 tonnes have been withdrawn from the SGE vaults. An estimate suggests 340 tonnes has been net imported into the Chinese domestic gold market over this period (calculating with a yearly SGE... Continue Reading

The Mechanics Of The Chinese Gold Market

Chinese gold market essentials My previous posts (part one, two, three) on the structure of the Chinese gold market I started writing a few years ago and additional information has been published in little bits and pieces all over my blog. The time has come for another comprehensive and updated post on the basic mechanics of the Chinese gold market. According to my... Continue Reading

How The World Is Being Fooled About Chinese Gold Demand

Kindly note the pattern There is a story being told to the masses about Chinese gold demand that is grossly incorrect. The huge discrepancy between numbers from the World Gold Council (WGC) and actual gold demand is so wide yet cunningly hidden I must conclude there is essential information about physical gold demand deliberately kept privy. Let’s go back to April... Continue Reading

Chinese Gold Financing Deals Explained

Chinese gold market essentials One of the main causes many gold analysts assume Chinese gold demand (and withdrawals from the vaults of the Shanghai Gold Exchange) is inflated is because of Chinese Commodity Financing Deals (CCFD). However, this analysis is incorrect. When I had discussion the other day with a colleague about how round tripping gold flows in China were... Continue Reading
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