Weekly Chinese Gold Demand Increases At 35 MT, YTD 670 MT

Chinese weekly gold demand is back on the rise after being below 30 metric tonnes for three weeks. In week 17 (21-4-2014/25-4-2014) SGE withdrawals, which equal Chinese wholesale demand, accounted for 35 metric tonnes. Just below the year to date average of 39 tonnes. Premiums are still around zero.



Overview Shanghai Gold Exchange data 2014 week 17


- 35 metric tonnes withdrawn in week 17 (21-4-2014/25-4-2014)

- w/w + 20.43  %

- 670 metric tonnes withdrawn year to date, – 4.5 % year to date.


My research indicates that SGE withdrawals equal Chinese wholesale gold demand. For more information read this.



Shanghai Gold Exchange withdrawals 2014 week 17



This is a screen shot from the weekly Chinese SGE trade report; the second number from the left (blue – 本周交割量) is weekly gold withdrawn from the vaults in Kg, the second number from the right (green – 累计交割量) is the total YTD.



SGE withdrawals week 17 2014



This chart shows SGE gold premiums based on data from the SGE weekly reports (it’s the difference between the SGE gold price in yuan and the international gold price in yuan).



Shanghai Gold Exchange premiums



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



SGE premiums



In Gold We trust


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