Chinese Gold Demand 41t in week 37, 1331t YTD

Shanghai (Sept 21)  Where to begin. Much has happened this week in the Chinese gold market; on wednesday the Shanghai Gold Exchange (SGE) released multiple rule books written in English describing every detail on the workings of the SGE and its brand new subsidiary the Shanghai International Gold Exchange (SGEI). Finally the world can read everything about the Chinese exchange that is strongest force in the physical gold market, but was widely misunderstood because of the language barrier. Though having channeled unprecedented amounts of physical gold into China mainland the SGE has been enjoying little coverage in the mainstream media.

Thursday September 18, at 8 pm GMT+8, in the Chinese night trading session, the SGEI was officially launched and started trading three physical gold contracts. On the next screen dump below we can see the first activities of the SGEI; iAu100g, iAu995, iAu9999 are SGEI physical gold contracts. 

Soirce: BullionStar