China gold demand so far this year has already beaten previous full year record

With around seven weeks of purchasing still to go in 2015, gold deliveries out of China’s Shanghai Gold Exchange (SGE) so far this year have already shot past the 2013 full year record and are heading towards beating the full year total by a massive 400 tonnes or so.  The latest week’s withdrawals figure out of the SGE for the week ending November 6th came out at 44.9 tonnes bringing the total for the year to date to 2,210 tonnes.  In the previous full year record for SGE deliveries (in 2013) the total for the full year was 2,181 tonnes so year to date the flow of gold through the SGE is already some 366 tonnes ahead of the record 2013 year at the same stage.  With gold demand in China currently reported as being particularly strong given the weakness in the gold price proving attractive to Chinese consumers, we see no reason why the full year total should not end 400-450 tonnes higher than in the previous record year.

To read more on this do click on my article on this on Sharppixley.com – China gold demand already passes 2013 annual record.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s