First published by Money Metals here: https://www.moneymetals.com/news/2016/05/11/physical-gold-flows-east-000866

This spring, the center of gravity in the gold trading universe shifted eastward. China’s Shanghai Gold Exchange launched a yuan-denominated gold price fix on April 19th. The new Asia-centric gold pricing mechanism highlights the fact that for many years physical gold has been flowing from the West to the East.