tag:blogger.com,1999:blog-6089228851855763774.post1920334940168228844..comments2024-03-29T07:10:06.022+08:00Comments on Gold Chat: Chinese gold demand and SGE withdrawals: the role of leasing and inventory changesBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6089228851855763774.post-4341746154533673592015-01-10T15:02:58.521+08:002015-01-10T15:02:58.521+08:00Happy New Year, Bron.
A year ago ANZ correctly pr...Happy New Year, Bron. <br />A year ago ANZ correctly predicted Chinese imports would decline in 2014. Now they're saying the opposite for reasoning you discuss: <i>"Thianpiriya explained that one of the reasons why gold imports, and demand to China, were low in 2014 was because there was already a significant build-up of reserves as a result of weaker prices in 2013. However, he is expecting Chinese imports to pick up in 2015 as most of the onshore supply has been reduced."</i><br />I disagree with your comment about about the gold flows because these include investment demand, which the WGC appears unable to measure directly, e.g. the thousands of tonnes imported into the UK from 2001-12.<br />http://www.kitco.com/news/2014-12-31/Asian-Investors-Need-To-See-Higher-Gold-Prices-in-2015-Before-They-Buy-More-ANZ.htmlrowingboatnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-54680399630888199662015-01-08T23:23:27.268+08:002015-01-08T23:23:27.268+08:00Gold is Your Best Cash.Gold is Your Best Cash.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-33628063193967185242015-01-08T17:51:01.960+08:002015-01-08T17:51:01.960+08:00Nice to have more people digging into the details ...Nice to have more people digging into the details of the Chinese gold market. <br /><br />I agree with you SGE withdrawals do not match end consumer demand, that's why I have always called them "wholesale demand". How much is truly stuck in inventory is hard to say. <br /><br />The chart of Nick is misleading coz "aggregated withdrawals" 2010 - 2014 were at least supplied by about 1,300 tonnes of scrap supply. Additionally, before 2009 the Chinese market also existed. Therefor the "aggregated withdrawals" section of the chart is useless. <br /><br /><br />Anonymoushttps://www.blogger.com/profile/09260188706906112262noreply@blogger.com