Week 41 Shanghai Gold Exchange Physical Delivery

Koos Jansen

Today the SGE published trading numbers from last week. The Chinese are not slowing down their physical gold purchases this year. Although the 2013 weekly SGE delivery record stands at 117 tons, last weeks physical delivery was 47 tons, which is above the yearly average of 41.7 tons.
We saw a little rise in the premium on SGE spot gold, on 11 October it was 1.5 % over the international price. This week we saw premiums in India rising significantly, next friday we’ll know if the same happened on the SGE.
Year to date physical delivery, which equals Chinese gold demand, is an incredible 1709 tons, net import is over 1000 tons.Overview:- 47 metric tonnes delivered in week 41 (left the SGE vaults), 30-09-2013/11-10-2013
– w/w – 5.8 %
– 1709 metric tonnes delivered year to date
– weekly average 41.7 tonnes YTD, 2013 estimate yearly total 2125 tonnes.

Source: SGE, USGS

For more information on SGE delivery read this, on it’s relation to Chinese gold demand read this.

Screen dump from SGE trade report; the second number from the left (本周交割量) is weekly physical delivery, the second number from the right (累计交割量) is total delivery YTD.

Premiums based on the SGE week reports. Difference between SGE gold price in yuan and international gold price in yuan.

Screen dump of premium section; the first column is the date, the third the international gold price in yuan, the fourth is the SGE price, and the last is the difference.