Swiss Gold Exports to China in October Leap to Highest Since June 2018

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)

EXPORT (kg)

Oct-21 142,700

Sep-21 117,369

Oct-20 90,472

SHIPMENTS TO KEY MARKETS (KG)

To China To Hong To India

Kong

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.

Source: Reuters

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