In the next part of our on-going look at the global gold market we now turn our attention to the Shanghai Gold Exchange. An exchange which has received more interest of late, than any other in the world of gold and silver.
Previously we have looked at the global gold market, COMEX, and more recently the London Gold Market. The next logical focus of our investigations is the Shanghai Gold Exchange. We also have a great infographic providing you with the top figures.
Key takeaways from the report include:
– SGE volumes only ~3% of COMEX volumes
– Deliveries on SGE >37% compared to COMEX’s 2.7%
– SGE deliveries totalled 236 tonnes in April 2013
– Delivery amounts on SGE now exceeding HK gold imports and global mine supply
– Mythical premiums to COMEX barely exist, averaging 1.41%
– Physical nature of SGE gives it growing role in setting gold prices going forward