Swiss (Switzerland) exported more gold to China in October than in any month since June 2018, according to Swiss customs data that also showed shipments of gold to India falling slightly from September. China and India are the largest consumers of gold. Demand in both countries slumped during the coronavirus pandemic last year but has recovered strongly.
Swiss is the world’s largest refining center and transit hub.
Following are numbers for October and comparisons.
SWISS TRADE DATA (KG)
SHIPMENTS TO KEY MARKETS (KG)
To China To Hong To India
Aug-21 58,525 16,685 40,912
Jul-21 21,700 14,160 50,448
Aug-20 53 24,329
* Source: Swiss customs. Data subject to revision by source.