Make Kitco Your Homepage

Off The Wire

Huge shipments to India drive Swiss gold exports to 10-month high

Reuters

Kitco News

LONDON, April 22 (Reuters) - Switzerland in March recorded its biggest monthly gold exports in ten months as shipments to India leaped to their highest since 2013, underlining a revival in Asian bullion demand, Swiss customs data showed on Thursday. Switzerland is the world's biggest gold refining centre and transit hub. Its numbers provide an insight into market trends. The data points to India leading a recovery in demand in Asia, the biggest gold consuming region, after a slump caused by the coronavirus pandemic. The data also suggests weak demand from investors in Europe and the United States. A surge in exports to the United States that began last year began to unwind in March as the country sent far more metal back to Switzerland than it took in. Following are numbers for March and comparisons.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.