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Spectacular Chinese Gold Demand 2015 Fully Denied By GFMS And Mainstream Media

BullionStar Debunking the Thomson Reuters GFMS Gold Survey 2016 report. New information provides a more detailed perspective on the Chinese domestic gold market.  In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes. As Chinese wholesale demand, measured by withdrawals from Shanghai Gold Exchange designated vaults, accounted for 2,596 tonnes in 2015 the difference reached an extraordinary peak for the year. In an attempt to explain the 1,729 tonne gap GFMS presents three brand new (misleading) arguments in the Gold Survey 2016 and reused […]

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Chinese Gold Demand 973t In H1 2016, Nomura SGE Withdrawals Chart False

BullionStar Chinese wholesale gold demand, as measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), reached a sizable 973 metric tonnes in the first half of 2016, down 7 % compared to last year. Although Chinese gold demand year to date at 973 tonnes is slightly down from its record year in 2015 – when China in total net imported over 1,550 tonnes and an astonishing 2,596 tonnes were withdrawn from SGE designated vaults – appetite from the mainland is still the greatest of all single nations worldwide. At the same time the mainstream consultancy firms (World Gold Council, GFMS, […]

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Empty Buildings and Wasted Debt: The Chinese Economic “Miracle”

There’s no doubt that the Chinese economic miracle is real. When you move 500 million people from rural to urban settings, taking them from small farms and putting them in a specialized labor force, the economic dividend is massive. That’s how you keep GDP growing more than 7% for 25 years. But along the way, they wanted more. Beyond building factories and housing for new arrivals, local politicians started building massive, wasteful projects. Political meeting halls… Unused apartment buildings… Empty shopping malls… Part of it might have been poor economic planning, but a bigger, and more common, problem was at […]

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Are You Kidding Me? Chinese Exports Plunge 25.4 Percent Compared To Last Year

We just got more evidence that global trade is absolutely imploding.  Chinese exports dropped 25.4 percent during the month of February compared to a year ago, and Chinese imports fell 13.8 percent compared to a year ago.  For Chinese exports, that was the worst decline that we have seen since 2009, and Chinese imports have now fallen for 16 months in a row on a year over year basis.  The last time we saw numbers like this, we were in the depths of the worst economic downturn since the Great Depression of the 1930s.  China accounts for more global trade […]

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The Chinese Gold Market Essentials Guide

BullionStar Everything there is to know about the Chinese gold market and the true size of Chines private and official gold demand. Start here. This post will guide you through all relevant articles that have been published on BullionStar Blogs over the years that elucidate the mechanics of the Chinese (domestic) gold market and genuine Chinese gold demand. If you are new to the Chinese gold market or like to refresh your memory, this post provides a staring point from where to navigate through all segments of the Chinese gold market you like to study. For example, Chinese gold demand metrics, […]

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Chinese Gold Import At 1,152t YTD, Annualized 1,438t

BullionStar Withdrawals from the vaults of the Shanghai Gold Exchange (SGE), our measure of Chinese wholesale gold demand, accounted for 43 tonnes in week 47 (spanning from 30 November until 4 December). Year to date SGE withdrawals have reached 2,405 tonnes. Although Chinese gold import in 2015 will reach 1,400 tonnes and domestic mine output 476 tonnes, added together makes 1,876 tonnes (excluding scrap supply), the World Gold Council wants you to believe Chinese gold demand will be roughly 1,000 tonnes. Obviously this cannot be. Let’s zoom in on ‘the difference’ once more.  SGE withdrawals in 2015 have broken every record, though Chinese […]

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Reuters Spreads False Information Regarding The Chinese Gold Lease Market

BullionStar A reporter from Reuters asserts there is 2,000 tonnes of gold tied up in the Chinese gold lease market. Once again, we will debunk these fictitious statements.  Kindly be advised to have read Mechanics Of The Chinese Domestic Gold Market and Chinese Gold Trade Rules And Financing Deals Explained before you continue. (More in depth information on the Chinese gold lease market can be read in my posts: A Close Look At The Chinese Gold Lease Market, Gold Chat About The Chinese Gold Lease Market, Zooming In On The Chinese Gold Lease Market and Chinese Gold Leasing Not What It […]

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SGE Withdrawals Break Yearly Record. World Gold Council Continues To Hide Insatiable Chinese Gold Demand.

BullionStar The amount of gold withdrawn from the vaults of the Shanghai Gold Exchange (SGE), which equals Chinese wholesale gold demand, accounted for 45 tonnes in the trading week that ended on 6 November. Year to date SGE withdrawals have reached an astonishing 2,210 tonnes, which is more than the full year record set in 2013 at 2,197 tonnes. With nearly two months of trading left in the Chinese gold market, SGE withdrawals are estimated to reach more than 2,600 tonnes. Please read The Mechanics Of The Chinese Domestic Gold Market for a comprehensive explanation of the relationship between SGE withdrawals and Chinese wholesale […]

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Record UK Gold Export To China In September, Chinese Gold Import Reaches 156t

BullionStar According to the most recent data from Eurostat the UK has net exported 37.6 tonnes of gold to China in September, an all-time record. This figure is up 25 % m/m and up 280 % y/y. The UK started exporting gold directly to China in April 2014 when it shipped 5 tonnes to the mainland while for the first time bypassing Switzerland and Hong Kong. In total the UK net exported 114 tonnes to China in 2014. Year to date the UK has already net exported 210 tonnes of gold to China, annualized a whopping 280 tonnes, which would be 146 % more than last […]

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Largest Ever Chinese Gold Deposit Has Been Found 2,000m Undersea In Shandong

BullionStar The largest ever gold deposit in China has been found in the East China Sea, near the Sanshan Islands in the Shandong province, at a depth of 2,000 meters, the People’s Daily Online reported on Tuesday. The Shandong Provincial No. 3 Institute of Geological and Mineral Survey announced on Monday the massive gold deposit in the sea near the city of Laizhou holds 470.47 tonnes of gold. The vice director of the Shandong Provincial No. 3 Institute, Ding Zhengjiang, said the gold deposit is part of a belt that lies deep at the sea bottom. “It’s very difficult to […]

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