YTD SGE Delivery 1979 Tons, 51 Tons In Week 48

Koos Jansen

Physical withdraws from the Shanghai Gold Exchange vaults were up 8 tons last week, 51 tons from 43 tons a week earlier, up 16.53%. As we heard a few days ago from the biggest refinery in Switzerland they have been working 24 hours a day in three shifts all year in order to supply the Chinese, and this is not slowing down. Chinese demand will reach over 2200 tons in total this year, on top of that it’s estimated the PBOC will have purchased another 500 tons.

Overview Shanghai Gold Exchange data week 48

– 51 metric tonnes delivered in week 48 (withdraws from the SGE vaults), 25-11-2013/29-11-2013
– w/w + 16.53 %
– 1979 metric tonnes delivered year to date
– weekly average 41.23 tonnes YTD, 2013 estimate yearly total 2144 tonnes.

Source: SGE, USGS

For more information on SGE delivery read this, on it’s relation to Chinese gold demand read this.

Screen dump from SGE trade report; the second number from the left (本周交割量) is weekly physical delivery, the second number from the right (累计交割量) is total delivery YTD.

Premiums based on the SGE week reports. Difference between SGE gold price in yuan and international gold price in yuan.

Below is a screen dump of premium section in the SGE weekly reports; the first column is the date, the third the international gold price in yuan, the fourth is the SGE price, and the last is the difference.