{"id":6942,"date":"2015-03-29T19:15:27","date_gmt":"2015-03-30T00:15:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6942"},"modified":"2015-03-29T19:15:27","modified_gmt":"2015-03-30T00:15:27","slug":"when-will-china-disclose-its-true-official-gold-reserves-and-how-much-is-it","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6942","title":{"rendered":"When Will China Disclose Its True Official Gold Reserves And How Much Is It?"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/www.bullionstar.com\/blogs\/koos-jansen\/when-will-china-disclose-its-true-official-gold-reserves-and-how-much-is-it\/\" target=\"_blank\">When Will China Disclose Its True Official Gold Reserves And How Much Is It?<\/a><\/h3>\n<\/header>\n<div class=\"content-middle-area-full\">\n<div class=\"entry-content\">\n<p><em>Things are heating up in the Chinese gold market<\/em><\/p>\n<p>First let\u2019s go through the latest Shanghai Gold Exchange data and then we\u2019ll continue to discuss the most recent developments regarding Chinese official gold reserves.<\/p>\n<p>Friday the Shanghai Gold Exchange (SGE) released its\u00a0trade report of week 11, 2015 (March 16 \u2013 20).\u00a0<strong>Withdrawals from the vaults,\u00a0<a href=\"https:\/\/www.bullionstar.com\/blogs\/koos-jansen\/the-mechanics-of-the-chinese-gold-market\/\">which equal Chinese wholesale demand<\/a>, accounted for 53 tonnes, up 3.91 % from the prior week.<\/strong><\/p>\n<figure id=\"attachment_8766\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Screen-Shot-2015-03-27-at-10.33.53-AM.png\" rel=\"attachment wp-att-8766 lightbox-0\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8766\" src=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Screen-Shot-2015-03-27-at-10.33.53-AM.png\" alt=\"Screen Shot 2015-03-27 at 10.33.53 AM\" width=\"650\" height=\"155\" \/><\/a><figcaption class=\"wp-caption-text\">Blue (\u672c\u5468\u4ea4\u5272\u91cf) is weekly gold withdrawn from the vaults in Kg, green (\u7d2f\u8ba1\u4ea4\u5272\u91cf) is the total YTD.<\/figcaption><\/figure>\n<p><strong>Year to date total withdrawals have reached a staggering 561 tonnes, up 7.3 % from 2014, up 33 % from 2013.<\/strong><strong>When using the\u00a0<a href=\"https:\/\/www.bullionstar.com\/blogs\/koos-jansen\/the-mechanics-of-the-chinese-gold-market\/\">basic equation<\/a>\u00a0for the Chinese gold market to estimate import, we learn that up until March 20 China has net imported 412 tonnes. Add to this\u00a0<a href=\"https:\/\/www.bullionstar.com\/blogs\/koos-jansen\/indian-gold-import-exploding-in-march\/\">India has net imported about 230 tonnes<\/a>\u00a0over the same period, that\u2019s 642 tonnes combined.\u00a0I wonder how long the Chinese can keep up this pace of importing before physical supply from Western vaults runs dry.<\/strong><\/p>\n<p><a href=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Shanghai-Gold-Exchange-SGE-withdrawals-delivery-2015-week-11-dips.png\" rel=\"attachment wp-att-8767 lightbox-1\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8767\" src=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Shanghai-Gold-Exchange-SGE-withdrawals-delivery-2015-week-11-dips.png\" alt=\"Shanghai Gold Exchange SGE withdrawals delivery 2015 week 11 dips\" width=\"1842\" height=\"976\" \/><\/a><\/p>\n<p><a href=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Shanghai-Gold-Exchange-SGE-withdrawals-delivery-only-2014-2015-week-11.png\" rel=\"attachment wp-att-8768 lightbox-2\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8768\" src=\"https:\/\/static.bullionstar.com\/blogs\/koos-jansen\/wp-content\/uploads\/2015\/03\/Shanghai-Gold-Exchange-SGE-withdrawals-delivery-only-2014-2015-week-11.png\" alt=\"Shanghai Gold Exchange SGE withdrawals delivery only 2014 - 2015 week 11\" width=\"1842\" height=\"976\" \/><\/a><\/p>\n<p>Trading volume on the Shanghai International Gold Exchange (SGEI) has been 32 tonnes in week 11, which could have distort SGE withdrawals by 0.8 tonnes. (Read\u00a0<em><a href=\"https:\/\/www.bullionstar.com\/blogs\/koos-jansen\/sge-withdrawals-in-perspective\/\">SGE Withdrawals In Perspective<\/a>\u00a0<\/em>for more information on the relation between SGEI trading volume and SGE withdrawals)<\/p>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When Will China Disclose Its True Official Gold Reserves And How Much Is It? Things are heating up in the Chinese gold market First let\u2019s go through the latest Shanghai Gold Exchange data and then we\u2019ll continue to discuss the most recent developments regarding Chinese official gold reserves. Friday the Shanghai Gold Exchange (SGE) released [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,374,1865,4511,4510],"class_list":["post-6942","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-gold","tag-gold-reserves","tag-sget","tag-shanghai-international-gold-exchange"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6942"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6942\/revisions"}],"predecessor-version":[{"id":6943,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6942\/revisions\/6943"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}