Swiss June gold exports fall to the lowest in more than two years
Swiss June gold exports fell to the lowest level since April 2022 owing to reduced shipments to China and India, customs data showed. Switzerland is the world’s biggest bullion refining and transit hub while China and India are the largest consumer markets, where demand depends on the season and is often sensitive to high gold prices.
With spot gold prices up almost 20% so far this year, Swiss gold exports to China, India and Turkey fell sharply month-on-month in June, while deliveries to Hong Kong rose, the data showed. Gold prices hit a record high of $2,483.60 per ounce on Wednesday.
Swiss total gold exports (in kgs)*
|
Export |
|
|
June 2024 |
68,383 |
|
May 2024 |
103,522 |
|
June 2023 |
117,574 |
* Source: Swiss customs. Data subject to revision.
Exports to key markets (in kgs)
|
To China |
To Hong Kong |
To India |
To Turkey |
|
|
June 2024 |
12,250 |
5,025 |
6,886 |
5,528 |
|
May 2024 |
36,243 |
1,594 |
14,000 |
9,523 |
|
June 2023 |
30,991 |
7,396 |
23,369 |
12,984 |
Source: https://www.mining.com/