Chinese Gold Demand Still Going up – But Slowly

Chinese Gold Demand Still Going up, But Slowly. This year SGE December withdrawals slightly exceeded those for December 2019, and indeed was the highest withdrawal month of the year, although it still fell slightly short of the December 2018 figure.

As can be seen from the table below, which sets out the month by month SGE gold withdrawal totals and the overall adjusted cumulative totals for the year as reported by the SGE at a little over 1.2 million ounces, this actually represents the lowest Chinese annual demand total for 8 years and less than half the amount withdrawn in the record 2015 year. Given that we equate the SGE gold withdrawal figures to overall

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