Gold inventories at the Shanghai Futures Exchange vaults are skyrocketing:
Deliverable gold in the Shanghai Futures Exchange, measured by warehouse warrants, is up to a record 104 tonnes.
Warehouse warrants represent physical gold stored in approved exchange vaults that can be held, transferred, or used as collateral.
Warrants have risen more than 500% since mid-2025.
By comparison, until Q2 2024, warehouse gold warrants had not exceeded 5 tonnes for years.
This comes as Chinese demand for physical gold has soared to unprecedented levels.
Physical gold demand in China is exploding.
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Gold inventories at the Shanghai Futures Exchange vaults are skyrocketing:
Deliverable gold in the Shanghai Futures Exchange, measured by warehouse warrants, is up to a record 104 tonnes.
Warehouse warrants represent physical gold stored in approved exchange vaults that can be held, transferred, or used as collateral.
Warrants have risen more than 500% since mid-2025.
By comparison, until Q2 2024, warehouse gold warrants had not exceeded 5 tonnes for years.
This comes as Chinese demand for physical gold has soared to unprecedented levels.
Physical gold demand in China is exploding.