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June 19, 2009

Shanghai Gold Exchange
by Adrian Burridge

Shanghai gold exchange
http://www.sge.sh/web/show_col.asp?cid=19

Open Interest (month End) 24 months	AU (T+D)	AG (T+D)
May 2009	77,704	150,922
April 2009	76,016	121,032
March 2009	66,740	116,326
Feb. 2009	87,854	100,838
Jan. 2009	68,820	82,616
Dec. 2008	73,206	92,304
Nov. 2008	55,192	101,656
October 2008	57,678	109,568
Sept. 2008	40,750	81,716
Aug. 2008	56,206	87,744
July 2008	68,706	59,338
June 2008	58,980	49,566
May 2008	61,148	54,350
April 2008	46,852	49,428
March 2008	60,940	54,264
Feb. 2008	66,312	45,634
Jan. 2008	75,650	40,552
Dec. 2007	74,910	39,030
Nov. 2007	70,364	34,776
Oct. 2007	57,914	26,606
Sept. 2007	39,182	22,082
Open Interest not Reported. Only delivery volume.
Aug. 2007	22,188	43,668
Open Interest reported.
July 2007	18,352	25,178
June 2007	17,264	23,768

Conclusions

Both columns are higher month over month and year over year - May over May and May over April.

Open interest in the first column has gone from 17,264 to 77,704 an increase of 450% in the space of two years.

Open interest in the second column has gone from 23,768 to 150,922 an increase of 634% in the space of two years.

This appears to be an increasingly positive world for precious metals, and an increasingly negative world for treasuries, dollars (G7 currencies) and equities.

Conclusions

Buy all the bullion you can carry. Who do you trust? Do you know who your counterparty is? 1 2 or 3 zeroes. $195 trillion in worldwide equities, bonds and bank assets, excluding real estate AND DERIVATIVES according to the IMF. $5 trillion in physical gold. 1344 IPOs so far since January 1st, 2000 in the United States compared to 1600 firms listed on the TSE and 36 gold stocks in the international indexes. 8.4 million CUSIPS according to www.cusip.com and 36 gold stocks in the international indexes. 381 ETF's on the Amex. 36 gold companies in the international indexes. Over 1 million structured products according to structured retail products. http://www.structuredretailproducts.com/

Disclosure: Long Iamgold (IMG:T), Eldorado (ELD:T), Kinross (K:T), Northgate (NGX:T), Nevsun (NSU:T), Golden Star (GSC:T), Gabriel (GBU:T), Agnico (AEM:T), Linear (LRR:T), Yamana (YRI:T), Silver Standard (SSO:T), Jinshan (JIN:T), Compton (CMT:T), Nova Gold (NG:T) common, HudBay Minerals (HBM:T), Central Fund (CEF.a:T), Goldcorp (G:T), Ensign (ESI:T), Akita Drilling (AKT.a:T), Noble Metals (NMG:X), Aurizon (ARZ:T), Northern Dynasty (NDM:T), First Majestic (FR:T) Tucows (TC:T), physical cash, Royal Bank (RY:T) T-Bill Fund, Royal Bank Precious Metals Fund, Forest and Marine (FME:X) debt and equity, physical gold, physical silver at the time of writing

Adrian Burridge
CanadianInvestors.com

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