The Chinese Demand For Silver Is Very Strong

A few minutes ago the Shanghai Gold Exchange released its August report. The chart below is especially impressive:

source: Shanghai Gold Exchange

As the chart shows, the Chinese demand for silver was the highest this year. In August the Chinese investors withdrew as many as 270.3 tons of silver.

What is more, the demand was very strong despite rising prices of silver (in August the price of silver went up from 112.8 Yuan in the beginning of the month to 114.9 Yuan at the end).

Yes, I am really impressed...