China Acquired 2000 Tonnes of Gold In 2013, Almost Double World Gold Council Estimates

"I have some suspicions about where the gold bullion that is leaving the Western funds and ETFs is going.

Gold is moving steadily from West to East. When the reckoning comes, it may be terrific.

SGE Chairman: 2013 Chinese Gold Demand Was 2000 tonnes

By Koos Jansen

Published: 10-10-2014 18:23

This is the final blow for the ones who still couldn’t comprehend, after all evidence presented, the amount of Chinese non-government gold demand in 2013.   At the LBMA forum in Singapore June 25, 2014, one of the keynote speakers was chairman of the Shanghai Gold Exchange (SGE) Xu Luode. In his speech he made a few very candid statements about Chinese consumer gold demand, that according to Xu reached 2,000 tonnes in 2013. In contrast to the Word Gold Council (WGC) that states Chinese gold demand was 1,066 tonnes in 2013. Xu's speech has now finally been translated andpublished in the LBMA magazine The Alchemist #75.

Xu's statements once again confirm what I have been writing for months. SGE withdrawals equal Chinese wholesale demand:

import + mine + scrap = total supply = SGE withdrawals = wholesale demand"

at  http://jessescrossroadscafe.blogspot.com.tr/2014/10/china-consumed-2000-tonnes-of-gold-in.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+JessesCafeAmericain+(Jesse%27s+Caf%C3%A9+Am%C3%A9ricain)