Koos Jansen
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Koos Jansen

Federal Reserve New York Gold Withdrawal Numbers 2014 Don’t Match Dutch-German Repatriation Claims

From January to December 2014 the Federal Reserve Bank Of New York (FRBNY) has been drained from 176.81 tonnes of physical gold out of the foreign deposit accounts. A drop from 6,195.60 tonnes to 6,018.79 tonnes over 12 months, FRBNY data published on Friday showed. The FRBNY doesn’t disclose how much is withdrawn by which central bank. These numbers do not match... Continue Reading

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

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 71 tonnes, up 0.89 % w/w, and a new third highest amount ever. Year to... Continue Reading

Netherlands Did Not Increase Gold Holdings In December

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. So we can rest assure DNB did not buy... Continue Reading

India Silver Import 2014 At 7,063 Tonnes, Up 15 %

India’s customs department, the Directorate General of Commercial Intelligence & Statistics (DGCIS), just released the QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES for December 2014. According to DGCIS the figures for December are provisional and subject to change, however, I’ve been tracking these quick estimates for months and they are reasonably accurate -... Continue Reading

Booming SGE Withdrawals In Week 2, 2015: 70 Tonnes

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 2 were at least 65 tonnes... Continue Reading

Will Gold Be Part Of A New International Monetary System?

Anyone who has been paying attention to the global economy the past years can agree with me our central bankers have conducted miserable monetary policy and have taken insufficient measures to fight crises. All major economies have embarked in printing unprecedented quantities of money, but the only thing they bought was time. Quantitative easing on such a scale is like... Continue Reading

Germany Repatriated 120 Tonnes Of Gold In 2014

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 were returned. Below we can see an overview from BuBa... Continue Reading

Guest Post: I have a Theory On The Swiss Franc

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 the official one. Now please understand I have zero proof outside of the charts, so this is speculation... Continue Reading

China Continues To Drain Global Gold Inventory

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 moment we don't know exactly what the... Continue Reading

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

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). Blue (本周交割量) is weekly gold withdrawn from the vaults in Kg, green (累计交割量) is the total YTD. An astonishing... Continue Reading

Wikileaks 1976: PBOC Focussed On Gold & SDR’s

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 Mao Zedong passed... Continue Reading

We Can’t Pretend Forever Gold Is Worth $42.22/Oz

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 the point now. The point is these gold certificates are still valued... Continue Reading

Chinese Lunar Year Gold Buying Frenzy Started

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 of the goat. For the... Continue Reading

The Turkish Gold Standard, Part 1

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 2011 that allows commercial banks to use... Continue Reading

Yearly Shanghai Silver Volume Transcends COMEX Again, SGE Withdrawals Nearly 2,100t

Happy New Year from the BullionStar team! In 2014 silver futures traded on the Shanghai Futures Exchange (SHFE) accounted for 2,908,168 tonnes. On the COMEX 2,123,387 tonnes were traded, 37 % less than in Shanghai.  First let's have a look at the latest SGE trade report of week 52 (December 22 -26). Total SGE gold withdrawals was a staggering 58 tonnes in week 52,... Continue Reading
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