Mainstream Media Reports On SGE Physical Delivery
- 07 Nov 2013 10:49
- Koos Jansen
Although I can’t track all media on Shanghai Gold Exchange coverage – maybe they report more on it than I know – but as far as I know the big guys wrote about SGE physical delivery twice now.
Bloomberg, 15 July 2013:
The Shanghai Gold Exchange supplied 1,098 metric tons in the six months through June, compared with 1,139 tons for the whole of last year, according to data from the bourse today.
Reuters on 18 October 2013:
Physical deliveries from the Shanghai Gold Exchange totaled 1,709.056 tonnes as of Friday, data on the exchange’s website showed.
What is important to understand is that the majority of these deliveries are supplied by imports from the west, and they give us very detailed information of Chinese gold demand. The gold exodus from west to east is accompanied by the power shift from the US to China, and underlines the end of the US dollar hegemony.
Slowly this information is reaching the masses. Slowly, but surely, it will have an enormous impact on power relations between nations.
In Gold We Trust