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Koos Jansen is a precious metal analyst from the Netherlands. Koos
mainly provides unique insights about Chinese gold market.
Koos Jansen
Withdrawals from the Shanghai Gold Exchange (SGE), the best indicator for Chinese wholesale demand, have been strong in 2014. In total 2,102 tonnes was loaded out from the SGE vaults. Mid 2014 withdrawals were relatively low, then they ramped up in September. In this post we’ll examine where this gold was sourced from. At this … Continue Reading 
Koos Jansen
As I mentioned last week, January is the time of the year for the Chinese to buy golden gifts for their love ones. And that is exactly what they are currently doing en masse, according to the latest data from the Shanghai Gold Exchange (SGE). An astonishing 61 tonnes have been withdrawn from the vaults in … Continue Reading
Koos Jansen
Another piece of the puzzle. The next Wikileaks cable is a summary of a meeting that took place in October 1976 between, among others, chairman of the Federal Reserve, Arthur Burns, and a delegation of Chinese bankers from the PBOC. For the record, this was five years after Nixon suspended US dollar convertibility into gold and one month after … Continue Reading
Koos Jansen
The lawful owner of the 8,134 tonnes of official gold holdings of the United States is the US Treasury. The Federal Reserve handed over the official gold reserves to the Treasury in 1934 and in return received gold certificates – which, by the way, are not redeemable for gold, only for dollars, but that’s not … Continue Reading
Koos Jansen
Every year around January first the Chinese ramp up gold buying at retail level to an unprecedented pace (click, click and click to read about the buying spree last year). The Chinese calendar (Lunar Year) is slightly different than the Western (Gregorian) calendar. In China new year will be celebrated on February 19, 2015, this time to begin the year … Continue Reading
Koos Jansen
One the most interesting gold markets around, but least talked about, is the Turkish gold market. The Turkish people have a strong tradition that goes back thousands of years to save in physical gold and it’s estimated 5,000 tonnes of gold are owned privately. Additionally, the Turkish central bank (CBRT) has implemented a model in … Continue Reading
Koos Jansen
Happy New Year from the BullionStar team! In 2014 silver futures traded on the Shanghai Futures Exchange (SHFE) accounted for 2,908,168 tonnes. On the COMEX 2,123,387 tonnes were traded, 37 % less than in Shanghai. First let’s have a look at the latest SGE trade report of week 52 (December 22 -26). Total SGE gold withdrawals was a staggering 58 … Continue Reading
Koos Jansen
The Netherlands (and likely Germany as well) made concrete plans in 2012 to switch to a new currency in case the euro would crash. Not long after the emergency currency was ready the Dutch began repatriating 122.5 tonnes of gold from New York. This can be very important as there is a possibility the Eurocrisis will ignite again. Monday … Continue Reading
Koos Jansen
The number we all have been waiting for; The Federal Reserve Bank of New York (FRBNY), which is the custodian for parts of the official gold reserves of 36 nations and the IMF, e.g. The Netherlands and Germany, saw its inventory of foreign gold deposits drop by 47 tonnes in November 2014. Year to date … Continue Reading
Koos Jansen
As some of you may have noticed Bron Suchecki, manager at the Perth Mint and publisher of the Goldchat blog, wrote a critical article about my recent post on the Chinese gold lease market. Firstly I would like to thank him for the work he does writing critical articles on blogs in the gold space that have lost touch with … Continue Reading
Koos Jansen
Turd Ferguson interviewed me last Thursday (October 9, 2014), a conversation worth sharing because we talked about a lot of subjects, like Chinese gold demand (government demand and non-government demand), the Shanghai Gold Exchange, the PBOC, the SDR, the IMF, the Turkish gold market, the Chinese silver market, etc. There were of course a thousand things I … Continue Reading
Koos Jansen
The National Day Golden Week, a one week holiday in China mainland, yes, the Chinese name their holidays golden, began on October 1 this year, so that’s when trading stopped on the Shanghai Gold Exchange (SGE) and Shanghai Futures Exchange (SHFE). This means I only have half a story for you today. The latest withdrawal data from the SGE always … Continue Reading
Koos Jansen
Last week I wrote Scotiabank had released an unveiling report on Chinese gold demand, written by Na Liu of CNC Asset Management Ltd.. In the report Na stated what I’ve been publishing for over a year: the amount of gold withdrawn from the vaults of the Shanghai Gold Exchange equals Chinese wholesale gold demand. This report put a little smile on my … Continue Reading
Koos Jansen
Could it be sie Germans? Every month the Federal Reserve bank of New York (FRBNY) publishes the amount of gold it holds in custody for 36 foreign central banks and the IMF. After a significant drop in July of 24 tonnes, 15 tonnes were withdrawn from the vaults in August. Germany is the only country, that I’m aware of, … Continue Reading
Koos Jansen
Whilst western media are still under the assumption Chinese gold demand is declining, based on data from the World Gold Council and net gold export from Hong Kong to China mainland, in reality demand is extremely strong. As I’ve previously written, the lower the price of gold will go the more physical gold will be purchased by … Continue Reading
Koos Jansen
This post is part of the Chinese Gold Market Essentials series. Click here to go to an overview of all Chinese Gold Market Essentials for a comprehensive understanding of the largest physical gold market globally. This post was updated in late 2017. “This event is a major milestone in China’s opening of its financial market to foreign investors. The … Continue Reading
Koos Jansen
The Shanghai International Gold Exchange Is Launched! Where to begin. Much has happened this week in the Chinese gold market; on wednesday the Shanghai Gold Exchange (SGE) released multiple rule books written in English describing every detail on the workings of the SGE and its brand new subsidiary the Shanghai International Gold Exchange (SGEI). Finally the world can read everything... Continue Reading
Koos Jansen
Robust Chinese gold demand is keeping up its pace. Chinese wholesale demand, measured by withdrawals from the Shanghai Gold Exchange vaults, was 39 tonnes in week 36 (September 1 – 5). Year to to date 1290 tonnes has been withdrawn from the SGE vaults. Blue is weekly withdrawals in Kg, Green is withdrawals year to date … Continue Reading
Koos Jansen
Silver remains scarce in Shanghai Shanghai Gold After a very strong week from August 18 to 22, in which SGE withdrawals accounted for 46 tonnes, the sequential week was nearly as strong; in between August 25 and 29 withdrawals from the SGE vaults accounted for 42 tonnes. Year to date 1251 tonnes has left the … Continue Reading
Koos Jansen
Withdrawals from the Shanghai Gold Exchange vaults, which equals Chinese wholesale demand, in week 34 (August 18 to 22) accounted for 46 metric tonnes, the highest weekly amount withdrawn since late February (25 weeks ago). Year to date wholesale demand stands at 1209 tonnes. It’s worth stressing that this number includes gold that is recycled through the SGE. … Continue Reading
Koos Jansen
Withdrawals from the Shanghai Gold Exchange (SGE), which equal Chinese wholesale demand, accounted for 35 metric tonnes in week 33 (August 4 – 8). Up 7.25 % w/w, additionally the largest amount withdrawn in 8 weeks. Year to date 1163 tonnes have been withdrawn, for which I estimate 723 tonnes had to be net imported … Continue Reading
Koos Jansen
“Rupee" comes from r?pya, a Sanskrit term for silver coin While silver has been widely used as money in history, at the beginning of the 19th century gold became the dominant metal in trade. At the end of the 19th century central banks erupted around the world and began holding gold in reserve to back their currencies, … Continue Reading
Koos Jansen
Weekly withdrawals from the Shanghai Gold Exchange (SGE), which equals Chinese wholesale demand, have been nearly flat for four weeks in a row. 33 metric tonnes have been withdrawn in week 32 (August 4 – 8), up a modest 4.2 % w/w. Year to date 1,127 tonnes have been withdrawn, annualized 1,831 tonnes. Gold premiums also remained flat, around … Continue Reading
Koos Jansen
After having seen unprecedented amounts of physical gold moving across the globe in the aftermath of the goldprice collapse in April 2013, trade has been less robust in the past few months. In 2013 the UK net exported 1424 metric tonnes, Switzerland gross imported 3061 tonnes and gross exported 2777 tonnes, Hong Kong gross imported 2239 tonnes and gross exported … Continue Reading
Koos Jansen
Today the front month silver contract on the Shanghai Futures Exchange (SHFE) closed at an 8 % premium over London spot. Therewithal the futures curve of silver is in backwardation; silver is scarce in Shanghai. Backwardation means the future price is lower than the present spot price. Normally the futures curve of precious metals is in contango, meaning … Continue Reading
Koos Jansen
On Jugend-TV, a website that provides a stage for juveniles to present news, 17 year old Michael from Switzerland explains how the US took the sovereign gold reserves of the Ukraine in the turmoil that erupted after president Yanukovich had resigned. Translated by David van der Linden: Full transcript: Geheimtransport Ukrainischen Goldreserven in die USA Hello … Continue Reading
Koos Jansen
First let’s go through the Chinese SGE report published on August 8, which covers week 31 (July 28 – August 1). The total volume of gold traded on the Shanghai Gold Exchange (SGE) was 258 tonnes, of which 147 tonnes were traded as the spot deferred contracts Au(T+D) and mAu(T+D), the open interest closed at 141 tonnes. Total deliveries of the … Continue Reading
Koos Jansen
It was in August 2013 when I started digging into UK gold trade data. While at the time China was importing unprecedented amounts of gold, through customs data I was able to track the source all the way back to the UK, home of the London Bullion Market. In 2013 the only available database for … Continue Reading
Koos Jansen
By Wade Shepard from Vagabond Journey, @vagabondjourney Reports of the world’s most populated country having tens of millions of empty apartments and dozens of cities without people sounds like a sick twist of irony. But images of empty streets, barren skyscrapers, and thickets of brand new high-rise apartments housing nobody have been compulsively aired to a global audience that... Continue Reading
Koos Jansen
Total Chinese Reserves Reach 15,000 Tonnes For ten days I’ve been on vacation without internet, hence I missed one week to report on withdrawals from the Shanghai Gold Exchange (SGE) vaults. Here is a quick overview of what happened in the Chinese gold market in week 29 and 30. In week 29 (July 14 -18) 32 metric … Continue Reading
Koos Jansen
Demand In Week 28 Low At 25 MT According to the SGE reports published every friday on the previous trading week, Chinese wholesale gold demand year to date, as measured by SGE withdrawals, came in at 998 metric tonnes at the end of July 11 – at the time of writing it surely has passed 1000 tonnes. If we … Continue Reading
Koos Jansen
Indian Silver Demand Strong As Gold Is Curbed Precious metals analysts have received a few gifts from the authorities this year. In January the Swiss Customs Administration (SCA) decided to disclose their gold trade data country specific (previously only the total import and export numbers of bullion were available), also in January British customs (HMRC) decided to add … Continue Reading
Koos Jansen
The Chinese Perspective On The International Gold Market At the LBMA Bullion Market Forum in Singapore on June 25, 2014, two very important speakers attended; Xu Luode, chairman of the Shanghai Gold Exchange, and Zhou Ming, General Manager of the Precious Metals Department at ICBC. Me and Torgny Persson have written about the speeches from Xu and Zhou in previous posts, in … Continue Reading
Koos Jansen
On The Essence Of Exchange Rates I had an interesting conversation with a central banker a couple of days ago. He’s a friend of a friend and works at the Dutch central bank – will be working at the ECB next month. I invited him for drinks to ask him about banking in general and the … Continue Reading
Koos Jansen
Written by Chris Marcus, Arcadia Economics. There are several aspects about working in today’s financial industry that are less than perfect, although gaining an insight into how many on Wall Street think and why they make the decisions that they do is certainly one of the positives. In fact what many on the outside often … Continue Reading
Koos Jansen
Written by roguefaction A recent Chairman of that private corporation in control of the finances – perhaps even, the destiny – of the USA for the past 100 years, famously referred to the yellow metal as “a barbarous relic”. Although this Ph’d prophet of policy-managed markets has hardly been a fount of wisdom in the … Continue Reading
Koos Jansen
“China is the most talked about, but the least understood", was recently being said on CNBC. I fully agree – from what I know of the Chinese gold market. Western reporting on China swings from the most powerful economy after the US, that will soon take pole position, to the biggest financial bubble on the face … Continue Reading
Koos Jansen
Public TV channel 3sat, which is a cooperation between Germany, Austria and Switzerland, broadcasted a short documentary on gold price manipulation on May 9, 2014. More and more mainstream news outlets are covering the allegedly gold price manipulation, after evidence is pilling up and many other market manipulations, like LIBOR, are coming out. From the Financial Times February 23,... Continue Reading
Koos Jansen
Total Chinese wholesale gold demand year to date reached 694 metric tonnes in week 18 (28-4-2014/30-4-2014), annualized 2004 tonnes. During that week 23 metric tonnes of gold were withdrawn from the vaults of the Shanghai Gold Exchange (SGE) in only three days! The SGE was closed on May 1 and 2. If the SGE would have been open for … Continue Reading
Koos Jansen
This week Chinese Premier Li Keqiang visits four African nations, Ethiopia, Nigeria, Angola and Kenya, to boost ties with Africa where Chinese direct investments reached $25 billion in 2013, up 44 per cent from 2008, according to the BRICS post. Li will also meet African Union leaders in Addis Ababa, Ethiopia. Chinese vice-minister for foreign affairs, Zhang Ming, told … Continue Reading
Koos Jansen
Without further ado here are the official trade numbers from the DGCIS. INDIA IMPORTED 32 TONNES IN FEBRUARY. Gold premiums provided by Nick Laird from sharelynx.com. SILVER GROSS IMPORT WAS 486 TONNES. YTD 920 TONNES OF SILVER, ANNUALIZED 5520 TONNES. In Gold We Trust Continue Reading
Koos Jansen
The CIA has been involved in the Ukraine for quite some time. CIA director, Brennan, visited the Ukraine in mid April to consult with this coup government. To understand what is happening in the Ukraine we need to put this into historical context. We need to understand that the CIA has overthrown dozens of governments … Continue Reading
Koos Jansen
I present another intriguing translation, this time from an article by Tan Weihuan “China Gold News” Chief Researcher on the internationalization of the renminbi. What I find interesting is that according to the author China or any other of the BRICS countries in the short term are not interested in a gold backed currency (I share his opinion). … Continue Reading
Koos Jansen
From April 14 to 18, week 16, 29 metric tonnes of gold were withdrawn from the vaults of the Shanghai Gold Exchange. In week 15 it was 21 tonnes, so demand, which equals SGE withdrawals, is slightly picking up. Although it’s nowhere near the figures we saw in the beginning of this year, when there were … Continue Reading
Koos Jansen
* Koos Jansen interview recorded April 16, 2014 Sprott Money News (SMN): Hi, welcome back to this week’s Ask the Expert. I’m Geoff Rutherford for Sprott Money News, and on the line with me today, we have Koos Jansen of In Gold We Trust. Koos is the founder and writer of In Gold We Trust. … Continue Reading
Koos Jansen
Towards a new international monetary system – Part 2. [This is the English translation, first published here on 2014/04/10, of the original article written in French] We first established in January 2013 the need to resolve the problem of the international monetary system, and its absolute priority. [1] We then proposed in May 2013 a … Continue Reading
Koos Jansen
A four part Al Jazeera documentary about the history of oil cartels and how geo-political relations are dominated by oil. This documentary may shine some more light on the current tensions in the Ukraine, Syria and the East China Sea archipelago. Continue Reading
Koos Jansen
On April 4, 2014 Alasdair Macleod published an extensive analysis on the Chinese gold market. I felt obligated to respond to it by sharing my point of view and explain where I disagree with his analysis. I think his estimates are largely overstated because he double counts certain demand categories. He states Chinese gold demand … Continue Reading
Koos Jansen
For the ones that are interested in Privacy and the NSA, this testimony of Edward Snowden at The Parliamentary Assembly of the Council of Europe (PACE) is a comprehensive summary of all his revelations as yet. In 30 minutes you will be fully updated and refreshed! In Gold We Trust Continue Reading
Koos Jansen
I was tipped of by one of my readers on a new gold exchange operating in Singapore; Allocated Bullion Solutions Singapore. After taking a look on their website I asked their public relations desk for the details of their business. Websites can be incomplete and I wanted to be sure on what kind of exchange … Continue Reading
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