Gold Market Charts – November

The latest edition of BullionStar’s monthly wrap-up of developments in the world’s largest physical gold markets has just been published.

Chinese wholesale gold market demand for 2017 is shaping up to be the third strongest year on record, with projected gold demand for the full year running somewhere in the region of just under 2000 tonnes.

The central bank of Russia continues to close the gap on the central bank of China, and now holds 1801 tonnes of gold in its official reserves vs 1842 tonnes for the Chinese. China’s central bank has not officially acquired any gold since October 2016, but the accuracy of Chinese central bank gold data is open for debate.

Swiss non-monetary gold imports during October 2017 were relatively low at just under 100 tonnes. On the gold export side, the destinations of India, China and Hong Kong together accounted for 66% of Swiss non-monetary gold demand during October.

Powered by WPeMatico