Latest SGE gold withdrawals figure so large it must be a typo. Mustn’t it?


The Shanghai Gold Exchange (SGE) announces its weekly gold withdrawals figure on Fridays – reporting the withdrawals a week in arrears.  So this Friday it came up with the figures  for Week 1 2016 (from January 4-9).  it presented them in a slightly new format and has also started to release weekly silver withdrawal figures which it had not been doing in the past.

So far so good, but the announced weekly gold withdrawal figure on this occasion was SO HIGH, that some observers think it must have been a typo.  The announced figure was fully 238.2 tonnes – around twice the previous weekly record level set back in 2013, which was itself more than around two times the normal prevailing weekly level at the time, and has not been  neared since.  last year saw some abnormally high weekly SGE withdrawal figures, but this amount is three times higher than the…

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