Tag: gold in china

China’s Gold Rush Continues, Imports Another 131 Tonnes In October

China’s Gold Rush Continues, Imports Another 131 Tonnes In October

The latest statistics show that China imported another 131 tonnes of physical gold in October through Hong Kong. The year to date net gold imports from Hong Kong to China total 967 tonnes. That is an astonishing amount of gold. To put this figure in perspective, one should note that the global production in 2012 was close to 2500 tonnes and that the US (having the highest gold reserves in the world) has a bit more than 8000 tonnes of gold reserves.

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The (Mis)Calculation Of Chinese Gold Demand

The (Mis)Calculation Of Chinese Gold Demand

According to Alasdair Macleod, it appears that the WGC’s figures substantially understate the true position. Furthermore, any analysis of gold demand will fail to account for the increase in gold ownership not constrained by national boundaries.

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China Imported An Additional 133 Tonnes Of Gold Directly in 2013

China Imported An Additional 133 Tonnes Of Gold Directly in 2013

Today’s news from Reuters shows that things are “complicated.” Over the course of this year, China would have imported an additional 133 tonnes directly, i.e. not through Hong Kong. This figure is a calculation based on top 20 gold exporters in the world.

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China Imports 0.7% Less Gold Than August, Bloombergs Says Slowdown

China Imports 0.7% Less Gold Than August, Bloombergs Says Slowdown

Net imports, after deducting flows from China into Hong Kong, were 109.4 metric tons in September, from 110.2 tons a month earlier. It is astonishing that Bloomberg reads a “slowdown” in these data. The facts are that, since the year 2000, only two months saw significantly higher imports than September, i.e. March and July of this year.

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How Gold ETF Demand Could Lift The Gold Price Dramatically Higher

How Gold ETF Demand Could Lift The Gold Price Dramatically Higher

Most commentators focus on the gold exodus in GLD. Although that observation is correct, it is only half of the story. The missing part is that the gold is not gone; it merely moves from West to East. THAT is the key reason why a resumption of the gold bull market could result in violent price reactions to the upside. The physical gold could be gone when the Western demand returns. That will possibly become the inflection point where the physical market will take over control of the gold price. Negative GOFO rates could be early signs of this process.

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World Gold Council Reports Significant Error In China’s Gold Holdings

World Gold Council Reports Significant Error In China’s Gold Holdings

On Thursday this week, the World Gold Council published their monthly update on official gold holdings. As noted by ourselves, and confirmed by Zerohedge, the official holdings from China have not changed despite their massive gold imports in 2013. The first 8 months of this year saw 3/4th imports of the supposedly total holdings, which is significantly incorrect.

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China Says “This Is US’ Responsibility,” Imports Another 131 Tonnes Of Gold

China Says “This Is US’ Responsibility,” Imports Another 131 Tonnes Of Gold

China warns: “We ask that the United States earnestly takes steps to resolve in a timely way before Oct. 17 the political (issues) around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery.” Meantime, net gold flows into China hit 110.505 tonnes in August, compared with 116.385 tonnes in July.

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China Stimulates Gold Demand, Becomes World’s Largest Gold Importer

China Stimulates Gold Demand, Becomes World’s Largest Gold Importer

China’s central bank is planning to increase the number of firms allowed to import and export gold and will also ease restrictions on individual buyers of the precious metal, according to a draft policy document issued on Monday. The proposed policy change could boost imports by China, which is expected to overtake India this year as the world’s top gold consumer, and where gold normally trades at a premium to London spot prices.

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Chinese Housewives vs. Goldman Sachs: No Contest

| September 24, 2013 | Category: Physical Market
Chinese Housewives vs. Goldman Sachs: No Contest

Goldman Sachs is once again predicting that gold will fall, setting a new near-term target of $1,050.

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New Chinese Exchange-Traded Products Poised to Boost Gold Demand

New Chinese Exchange-Traded Products Poised to Boost Gold Demand

The announcement of 2 new gold funds represents the latest in a steady stream of bullish signals to emerge from China lately. Still, it is important to recognize that physical bullion will continue to drive the international gold market due to the fact that ETF holdings represent just 1% of the entire 175,000 tonnes of the above-ground gold stock.

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China Imports An Impressive 116.4 Tonnes Of Gold In July 2013

China Imports An Impressive 116.4 Tonnes Of Gold In July 2013

China just released their latest gold import figures for the month of July. China imported through Hong Kong 116.4 tonnes of physical gold in July of 2013. That figure comes on top of the 517.92 tonnes of gold imports in the first 6 months of this year. In total, between January and July of this year, China imported a staggering 633.94 tonnes of physical gold.

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China Imports 104 Tonnes Of Physical Gold In June 2013

China Imports 104 Tonnes Of Physical Gold In June 2013

The latest Chinese gold import figures are out. China imported through Hong Kong 104.6 tonnes of physical gold in June of 2013. That makes for a total gold import of 517.92 tonnes from Hong Kong in the first 6 months of this year.

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China’s Central Bank Official Calls For New Monetary System

China’s Central Bank Official Calls For New Monetary System

Yao Yudong, one of the officials of the People’s Bank of China’s monetary policy committee, in which “he calls for a new Bretton Woods system to strengthen the management of global liquidity”. According to Zerohedge, “Yao called for more power to the IMF as international copperation and supervision are needed. […] Contrary to prevailing misconceptions that the SDR may be the currency of the future, China just may opt to have its own hard asset backed optionality for the future.”

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What Is Driving Gold Now?

What Is Driving Gold Now?

The price of the yellow metal increased by almost 5% on the week following the release of some rather confusing FOMC minutes and a statement by US Fed chairman Bernanke that the central bank will maintain its accommodative policies for the foreseeable future. Signs of some physical supply tightness in gold, as reflected by high premiums and record volume in the Shanghai Futures Exchange, declining inventories on Comex and a surge in gold lease rates all indicate some strong buying of the physical metal.

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