Bullion Star's gold demand charts for September, published yesterday, suggest that gold withdrawals from the Shanghai Gold Exchange for 2017 will exceed 1,900 tonnes, signifying fairly strong demand.
Russia, Bullion Star adds, seems likely to surpass China in officially reported gold reserves by April 2018, though of course China is believed to have much more gold in accounts controlled by the government than it reports publicly.
Bullion Star says physical gold holdings by "transparent" gold funds and products rose substantially in September, while Swiss gold exports fell sharply.
As of May, Bullion Star calculates, the London gold "float," the metal quickly available for trading, had risen a little but still was less than 1,000 tonnes.
Bullion Star's charts for September are posted here:
https://www.bullionstar.com/blogs/gold-market...rket-charts-...
