YTD SGE Delivery 1928 Tons, 43 Tons in Week 47

Physical delivery from the Shanghai Gold Exchange remains extraordinary robust throughout November. According to numbers released today by the SGE, last weeks delivery was 43 metric tonnes, up 7.5 % from a week earlier. Total SGE delivery year to date stands at 1928, on track to reach 2092 tons at the end of December. Total SGE delivery equals Chinese gold demand (jewelry, industrial, bar and coin demand).

In September I interviewed Alex Stanczyk, Chief Market Strategist for the Anglo Far- East group of companies. From his contact at the biggest gold transporter in the world, he told me there was even more gold being shipped to China than was moved through the SGE, and most of this gold came from the UK and Switzerland. This is what Alex tweeted today:

After discussions in Switzerland at heart of gold physical flows, physical supply never been tighter. Explosive moves ahead.

— Alex Stanczyk (@alexstanczyk) November 29, 2013

I will do another interview with Alex somewhere next week and publish it shortly after.

Overview SGE data week 47

– 43 metric tonnes delivered in week 47 (withdraws from the SGE vaults), 18-11-2013/22-11-2013
– w/w + 7.5 %
– 1928 metric tonnes delivered year to date
– weekly average 41.02 tonnes YTD, 2013 estimate yearly total 2092 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.

In Gold We Trust