Shanghai Gold Exchange Physical Delivery Equals Chinese Demand
Year to date physical delivery on the Shanghai Gold Exchange stands at 1546 tons. Apart from an article on Bloomberg there has been little coverage in the mainstream media on this extreme amount of physical gold that is being sold in China, nor do they report on unusual high gold export from the UK to Switzerland, nor on equally remarkable export from Switzerland to China. They seem blind for the current shift in wealth and power that is taking place right in front of their eyes; for the distribution of gold to the east.
Commentators must wonder if the numbers the SGE publishes regarding deliveries are truly about physical gold that leaves the SGE vaults. And if so, their relation to Chinese demand. In a previous post on this blog l've already shown that when SGE contracts are settled for delivery, this gold will physically leave one of the 49 designated warehouses in the mainland. Now we just have to connect a few dots to put this in perspective.
No comments:
Post a Comment