26.01.2015 - Despite higher gold price Chinese demand still surging
The latest SGE withdrawal figures show withdrawals of 70 tonnes for the week ending Jan 16th – the third highest weekly figure ever. The recent rise in the gold price, now standing at just below the $1300 mark, does not yet appear to have put a dent in Chinese gold demand as represented by withdrawals from the Shanghai Gold Exchange (SGE). Indeed it appears to be picking up even further in the weeks ahead of the Chinese New Year which falls on February 19th this year. If demand continues at the current rate, January will be a very strong month indeed despite the loss of a few trading days at the beginning of the month for the calendar New Year...............................................Full Article: Source
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