GoldMinerPulse: Shanghai Gold Exchange Physical Gold Delivery (Settlement)

Shanghai Gold Exchange Au(T+D) Weekly Delivery and Daily Settlement Volume Trends


Seabridge Gold    

Shanghai Gold Exchange (SGE)

For daily settlement updates, click here.

Gold Delivery From SGE Vaults

Shanghai Gold Exchange: Gold Bullion Delivered From Vaults (Updated on Fridays)
2013 2014 % Chg 2014 over 2013
4 January 2013 to Tonnes Gold Delivered from Vault 2 January 2014 to Tonnes Gold Delivered from Vault
13 December 2013 2073.53 12 December 2014 1955.08 -5.7%
6 December 2013 2023.17 5 December 2014 1905.06 -5.8%
29 November 2013 1978.91 28 November 2014 1866.70 -5.7%
22 November 2013 1928.24 21 November 2014 1813.14 -6.0%
15 November 2013 1884.74 14 November 2014 1760.66 -6.6%
8 November 2013 1844.28 7 November 2014 1708.40 -7.4%
1 November 2013 1814.70 31 October 2014 1654.21 -8.8%
25 October 2013 1783.00 24 October 2014 1606.76 -9.9%
18 October 2013 1749.68 17 October 2014 1547.08 -11.6%
11 October 2013 1709.06 10 October 2014 1495.57 -12.5%
27 September 2013 1661.58 26 September 2014 1427.20 -14.1%
20 September 2013 1611.14 19 September 2014 1380.90 -14.3%
13 September 2013 1587.56 12 September 2014 1330.63 -16.2%
6 September 2013 1545.80 5 September 2014 1289.70 -16.6%
30 August 2013 1499.25 29 August 2014 1250.67 -16.6%
23 August 2013 1462.98 22 August 2014 1208.75 -17.4%
16 August 2013 1347.54 15 August 2014 1162.67 -18.4%
9 August 2013 1384.84 8 August 2014 1127.24 -18.6%
2 August 2013 1347.54 1 August 2014 1094.21 -18.8%
26 July 2013 1301.31 25 July 2014 1062.50 -18.4%
19 July 2013 1249.18 18 July 2014 1029.1 -17.6%
12 July 2013 1198.4 11 July 2014 997.6 -16.8%
5 July 2013 1147.7 4 July 2014 972.93 -15.2%
28 June 2013 1098.2 27 June 2014 946.5 -13.8%
21 June 2013 1043.8 20 June 2014 919.5 -11.9%
14 June 2013 988.1 13 June 2014 883.2 -10.6%
7 June 2013 964.5 6 June 2014 850.1 -11.9%
31 May 2013 918.2 30 May 2014 823.2 -10.4%
24 May 2013 880.1 23 May 2014 787.5 -10.5%
17 May 2013 835.3 16 May 2014 751.0 -10.1%
10 May 2013 786.9 9 May 2014 721.5 -8.3%
3 May 2013 731.4 30 April 2014 693.8 -5.1%
19 April 2013 557.0 18 April 2014 636.4 14.3%
29 March 2013 457.7 28 March 2014 559.1 22.2%
1 March 2013 291.5 28 February 2014 417.6 43.3%
2 February 2013 178.7 24 January 2014 215.9 20.8%

An example of the Chinese language report showing delivery volume from vault is presented below. The image below was taken from p. 7 of the 14 June 2013 report (available 21 June 2013) which can be found in the SGE Site in the weekly quote update section (direct link is not available).

Physical Delivery From Vault 14 June 2013

Charts prepared using the weekly gold deliveries from SGE vaults and other related information are available here. An excellent blog on Shanghai Gold Exchange physical delivery is also available here.

Data on daily delivery from vault is not available in any SGE report -- the quantitly labeled as delivery volume on the SGE English language pages should be understood as "settlement volume" and is definitely NOT delivery volume from vault.

I received the following explanation on the daily Au(T+D) delivery, which I track in the next section below, from a contact at the SGE:

Simply speaking, Au(T+D) is a product with margin and position concept, i.e. you get a long position after buying and get a short positon after selling. Delivery happens everyday between long and short positions. So delivery volume is the volume delivered from some short positions to some long positions. It's nothing relevant to the volume leaving the vault which is not an available data. Think about futures, delivery occurs from short positions to long positions, kind of similar concept for your understanding.

My SGE contact would not, however, comment on the approximately 20 days of 0 Au(T+D) delivery volume during April and May of this year.

Sorry as an exchange, we can not make comments on trading pattern. You have to analysis by yourself based on public info.

The SGE has a flexible range of good delivery bars, which I believe is consistent with an exchange that is commonly used for physical delivery to consumers (source: CHINA NATIONAL GOLD GROUP CORPORATION): Shanghai Gold Exchange Good Delivery

 

Daily Au(T+D) and mAu(T+D) Settlement Reports

The following chart shows Au(T+D) plus the 0.1 * mAu(T+D) daily settlement volumes on a monthly basis, including current month to date. (Note: GG has correctly pointed out that mAu(T+D) have a 100 gram settlement volume while the Au(T+D) has a 1Kg settlement volume. Therefore combining contracts on the basis of Au(T+D) plus 0.1 * mAu(T+D) gives a total settlement volume in kilograms and provides a fair basis for comparisons with 2013 and earlier year result. My apologies for any confusion I caused with my earliers presentations of the daily settlement volumes.)

Although settlement volume is NOT physical delivery from vault, there is a relationship worth noting. In 2013

On a year to date basis in 2014, a similar relationship between settlement volume and physical delivery from vault continues. IMO the data speaks for itself and is well worth watching.

To view the weekly physical gold delivery from SGE vaults, click here.