New Hong Kong gold exports support record high China demand forecast

Hong Kong exported 97.42 tonnes of gold to the Chinese mainland in September – yet another indicator that Chinese gold demand is not only alive and well – but heading for yet another new record.  Taken together with SGE withdrawals so far this year of comfortably over 2,000 tonnes already this year and annual domestic gold production of perhaps around 480 tonnes, the amount of gold disappearing into Chinese maws remains immense.

To read my latest views on the supporting data on the Sharps Pixley website, Click here

 

 

 

 

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