Shanghai Gold Exchange withdrawals for the week were about 46 tonnes.
That is about 1,478,516 troy ounces.
Year to date withdrawals are about 2,451 tonnes, compared to 2,074 in 2013 which was the previous high for withdrawals.
Koos Jansen, The Chinese Gold Market Essentials
Gold bullion is moving from West to East, in increasing amounts.
At these price levels this is not sustainable.
"Gresham's law is an economic principle that states that when an official market or cartel overvalues one type of money or asset and undervalues another with respect to its fair market value and risks, the undervalued money or asset will leave the country as best it can, or will disappear from circulation into hoards, while the overvalued money or assets will flood into circulation."
