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Although latest Chinese SGE gold withdrawal figure is higher than a month earlier the total is well down y-o-y,, but any Chinese demand shortfall is being more than offset by ETF and central bank additions.
Latest figures from the Chinese central bank claim that the country added only 5.91 tonnes to its gold reserves in September, but how accurate are the Chinese figures?
Yet again the gold price was knocked back down well below $1,500 by a news snippet seen as equities positive and gold negative, bu the yellow metal was relatively quick to bounce back the the $1,500 level yet again.