A SPECTACULAR 79 TONS OF PHYSICAL GOLD WITHDRAWN FROM SGE VAULTS IN 1 WEEK!
JANUARY 21, 2014
The second weekly report that covers the five trading days from January 6th 2014 to January 10th was released today by the Shanghai Gold Exchange, and revealed a spectacular 79 tons physical gold has been withdrawn from the vaults.
Last week I wrote withdrawals were down, but could well pick up this month as China will celebrate Chinese new year on January 31, 2014 according to the Chinese Lunar calendar. And withdrawals did pick up..
This type of demand puts the physical gold market under severe stress, hence the scramble for gold in London a few days ago: