Shanghai Gold Exchange Au(T+D) Weekly Delivery and Daily Settlement Volume Trends
For daily settlement updates, click here.
|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|
|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 weekly Chinese language reports page, the location where weekly Chinese language reports can be accessed (note: weekly updates are typically released on Fridays with data for the previous Friday weekly close - i.e. there is a one week lag time in release of the weekly data).
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.
A July 2013 Bloomberg story, Gold Deliveries From Shanghai Bourse Jump on Physical Demand used the physical delivery data published by the SGE as a source (compare the year to date delivery numbers found on page 7 of the 5 July 2013 SGE weekly report (use the translation key above).
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 (SGE) Price - Daily, Au(T+D) and mAu(T+D):
23 July 2014 Close:
Au(T+D) Volume: 20.4 tonne of gold, a change of 5.2% from previous close.
Au(T+D) Open Interest: change of 0.7% from previous close.
Au(T+D) Delivery Volume (aka Settlement Volume): 3.7 tonne of gold.
Au(T+D) Close: $1309, a change of 0.1% from previous close.
Peak One Day Au(T+D) Volume: 104.5 tonne of gold, 16 April 2013.
Peak One Day Au(T+D) Delivery (Settlement) Volume: 32.3 tonne of gold, 22 March 2013.
Current Month Au(T+D) Delivery (Settlement) Volume (sum of daily figures): tonne of gold as of 23 July 2014.
Peak One Month Au(T+D) plus mAu(T+D) Delivery (Settlement) Volume (sum of daily figures): 444 tonne of gold, June 2014.
The following chart shows Au(T+D) plus the mAu(T+D) daily settlement volumes on a monthly basis, including current month to date. The mAu(T+D) is new in 2014 and is quickly becoming a popular item on the SGE. Although settlement volume is NOT physical delivery from vault, there is a relationship worth noting. In 2013
Gold physical delivery from vault was: 2,186 tonnes
Au(T+D) Settlement Volume was: 2,410 tonnes
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.