08 December 2022Latest data from the Shanghai Gold Exchange puts Chinese retail gold demand in November lower than in 2021, and even 2020 as well, suggesting that the Covid lockdowns and reduced global demand may be having an even greater impact on the country's economy than many had realised.
21 November 2022The Chinese mainland remained the top recipient for re-refined high purity gold exports from the Swiss gold refineries in October which continued to see the yellow metal flowing from West to East. However volumes to India slipped while exports to Turkey remained at a high level. Article updated with country-by-country destination chart.
07 November 2022The Shanghai Gold Exchange's latest gold withdrawals data for October has come in at under 100 tonnes, comfortably below last year's level, but above that for Covid-hit 2020. October figures do tend to be anomalous as the SGE is closed for the Golden Week holiday, but the low figure does suggest that overall Chinese gold demand for the full year is likely to fall below that for 2021
01 November 2022The start of the new month saw a good rise in gold and silver prices perhaps boosted by reports of record Q3 central bank gold accumulations and hopes of signs of a less aggressive approach by the U.S. Fed. emanating from the November U.S. FOMC meeting
21 October 2022September's Swiss gold import and export figures show a continuation of flows from West to East with China, India and Turkey dominating and confirming recent reports on Bloomberg of resultant high premiums in some Asian markets.
07 October 2022Despite a strong advance at the beginning of the current week taking the silver price briefly back above $21, and apparently strong supply/demand fundamentals, the price has since slipped back, and specialist consultancy, Metals Focus, is predicting even lower prices by the year-end due to lack of investment demand.
06 October 2022Despite the CME's Fedwatch Tool predicting a continuation of the Fed's aggressive interest rate raising policy, markets underwent strong upturns, but have looked a little vulnerable since. The next key inflation measure will be the U.S. CPI release on October 13th and this could be a major game-changer for the markets up, or down.
23 August 2022July's Swiss gold export figures were much higher than for the previous three months and show that China returned, after a gap of several months, to being the top recipient that month, replacing India which dropped to fourth.
08 August 2022Latest SGE gold withdrawal figures put July comfortably ahead of those for the same month in 2021 indicating that Chinese gold demand is picking up nicely despite problems associated with lockdowns resulting from the nation's zero-Covid policies
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