Koos Jansen
BullionStar Blogs

Koos Jansen

Shanghai International Gold Exchange Comes To Life

In September 2014 the Shanghai Gold Exchange (SGE) launched its International Board, the Shanghai International Gold Exchange (SGEI). After a slow start, the volume of the physical SGEI kilobar contract (iAu99.99) has transcended all other SGE contracts in week 15 (April 6- 10). The primary goals for the launch of the SGEI was to facilitate gold trading in renminbi,... Continue Reading

Zooming In On The Chinese Gold Lease Market

The primary reasons mainstream gold analysts (and the media) don't use Shanghai Gold Exchange (SGE) withdrawals as an indicator for Chinese wholesale gold demand, are - after a few others have been tested - Chinese Commodity Financing Deals (CCFD). Regarding gold these financing operations can be be conducted through round-tripping or gold leasing. Because of the... Continue Reading

Guest Post: Spelling Out The Big Reset

Written by LK in Hong Kong As economies age, debt builds up. Advanced economies - those with the highest borrowing ratings by the reputable agencies they developed - have it clogging up inside all their arteries. The Big Reset will finally become inevitable, as has been acknowledged by the IMF head Largarde, mentioning the year 2020. But what must an Armageddon debt reset... Continue Reading

Thoughts On The Price Of Gold

Withdrawals from the Shanghai Gold exchange (SGE), which equal Chinese wholesale gold demand, in week 12 (March 23 – 27) accounted for 46 tonnes, down 14.5 % w/w. Year to date total withdrawals have reached 607 tonnes, up 9 % from 2014, up 33 % from 2013. Blue (本周交割量) is weekly gold withdrawn from the vaults in Kg, green (累计交割量) is the total... Continue Reading

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
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