Koos Jansen: China stops publishing Shanghai exchange's gold withdrawals
3:38p ET Tuesday, January 26, 2016
Dear Friend of GATA and Gold:
Gold researcher and GATA consultant Koos Jansen today confirmed with the Shanghai Gold Exchange that it has discontinued publishing the weekly total of gold withdrawals from the exchange.
"This is a disaster for the gold community," Jansen writes. "Shanghai Gold Exchange withdrawals provided a unique transparent metric for Chinese gold demand, and it's gone. However, that the Chinese stopped publishing SGE withdrawals strongly confirms the importance of these numbers from the past. Until December these numbers gave us a direct measure of Chinese wholesale gold demand. The truth became a little uncomfortable for the Chinese."
Jansen understates the situation. China's decision to conceal the Shanghai gold withdrawal data confirms the monetary metal's supreme significance in the world financial system as it is and as it is likely to evolve. If gold wasn't becoming even more important and strategic, China would not start concealing its flow.
Jansen's report is headlined "China Stops Publishing SGE Withdrawal Figures" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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