Chinese Gold Demand 1163 MT YTD. Silver Surprise

Withdrawals from the Shanghai Gold Exchange (SGE), which equal Chinese wholesale demand, accounted for 35 metric tonnes in week 33 (August 4 – 8). Up 7.25 % w/w, additionally the largest amount withdrawn in 8 weeks. Year to date 1163 tonnes have been withdrawn, for which I estimate 723 tonnes had to be net imported into the mainland.

Chinese Gold Demand 1163 MT YTD. Silver Surprise