Alan Green’s Post

Slowdown in physical #gold trading volume on the #Shanghai Gold Exchange the last 3 days judging by the physical proxy contract Au9999, around 10 tonnes at the close today, while the 5-day moving average stands at 16.7t #preciousmetals #commodities #china #goldinvestments #gold #investment #buygold #goldbars #goldinvestment #goldseller #goldbar #goldbullion #sellgold #goldbuyer #goldcoins #preciousmetals

The physical proxy on the #Shanghai #Gold Exchange (SGE), premium was elevated. In our latest #article we list down the key indicators and what that means for the #Chinese gold #demand. Message us to receive more information from our analysts. #commodities #bullion #investments https://lnkd.in/gegkxtf9

#Silver withdrawals from the Shanghai Gold Exchange (SGE) totaled 464 tons ytd, a 16.6% percent YoY increase Chinese #silver demand from manufacturers & banks from the #Shanghai gold exchange(SGE) increased by 89 T or 153% M/M to reach 147 T in April #preciousmetals #commodities #china #silversqueeze

Why #Gold? - One proxy to rule them all - ACF Equity Research releases its new forecasted 12-month target value (est. 03/24) of $2,400/t oz. Gold is a safe-haven asset, especially in times of economic uncertainty. Understanding its value chain allows investors to hedge against volatility in other asset classes and helps them make more informed decisions about those asset classes. Gold is increasingly used in technology, understanding the value chain can help investors understand risks associated with the gold price, e.g. the relationship with mining and processing and keep an eye on the environmental impacts of the gold value chain. Understanding gold and its role can help investors understand markets more generally including using it as a proxy to understand the impacts on markets of global monetary policy changes, other macroeconomic factors and geopolitics. #ResponsibleMining #ValueChain #goldrecycling #ESG. #ACFValueChain https://lnkd.in/eQJCRPJP OTC Markets Group World Gold Council Perpetua Resources

Uzbekistan has secured the sixth position among countries actively increasing their gold reserves between 2013 and 2023, according to a report by the World Gold Council. During this decade, Uzbekistan expanded its gold reserves by 154 tons, highlighting the country's efforts to strengthen its foreign exchange holdings. Global central banks continue to view gold as a valuable asset, with 29% indicating plans to further boost their reserves by 2025. This marks the highest level of interest in gold purchases since 2018, signaling a trend of increased demand for the precious metal among national banks. Uzbekistan remains a major player in the global gold market, holding 357.7 tons of gold as of March 2024, which accounts for 74.3% of the country's total reserves. Earlier reports also noted that Uzbekistan became the world's second-largest gold purchaser in February 2024, after acquiring 9 tons of gold in December 2023. This marked an increase from the 6.5 tons purchased in the third quarter of 2023. https://lnkd.in/df-gjBz9

Curious about why private wealth investors are turning to gold in Singapore? Discover the allure of gold and Singapore through insights from our member, Nicolas Mathier, CEO of Global Precious Metals. #Crucible29 | Gold: A Safe Haven for Private Wealth Investors in Singapore As this shift unfolds, Singapore is poised to emerge as the next gold trading hub in Asia, with its strategic location, robust financial infrastructure, and proactive initiatives in the precious metals industry. Read more: https://bit.ly/3Tzv0ZO Download the PDF: https://bit.ly/3TuLYr1 #CruciblebySBMA #gold

#Gold withdrawals from the #Shanghai Gold Exchange (SGE) in May marked a four-year low, declining by 37.4% from the previous month to 82 tons. However, year-to-date withdrawals remained robust, totaling 736 tons, up by 5.4% compared to the same period last year. #preciousmetals #commodities #china #bullion

Gold now accounts for 4.9% of the People’s Bank of China’s total reported reserves, the highest percentage allocation on record. Further, investor demand has offset slow demand for jewelry, with regional gold ETFs recording their largest historical inflow (+US$1.3bn, +17t). April has proven to be a record-breaking month across the Chinese gold market. Looking ahead, the continuing need for value preservation and gold’s current high profile will likely support gold investment in China. For more on gold’s performance in China during April, read Ray Jia, FRM's blog: https://lnkd.in/ed-FFeU2 World Gold Council #China #PBOC #gold #ETF

Gold remains an important store of value, serving as a hedge and retaining value during economic crises. In 2023, amid uncertainty about US interest rates and continued geopolitical risks, the metal once again demonstrated its importance by hitting a new record in December. This graphic, by Sam Parker, displays the top 11 countries by gold reserves as of September 2023, based on data from Central Banks, the Federal Reserve Bank of St. Louis, the International Monetary Fund, the World Bank, and the World Gold Council. The U.S. boasts the world’s largest gold reserves, with 8,133 tonnes stored in 12 Federal Reserve Banks across the country. Russia and China have been the largest gold buyers over the last two decades. The People’s Bank of China was the biggest buyer of gold last year, purchasing 225 tonnes. #gold #commodities #resources #USA #China

#gold premiums on the Shanghai Gold Exchange (SGE) have been traded sharply higher this week (5-day Moving average up 21.5%) closing at $35.5 per ounce above #LBMA benchmark yesterday (2024 average at $38.85) #china #preciousmetals #commodities #goldinvestments #gold #investment #buygold #goldbars #goldinvestment #goldseller #goldbar #goldbullion #sellgold #goldbuyer #goldcoins #preciousmetals #investingold