Swiss April gold exports fall on lower shipments to China
Tue June 04 2024
Swiss gold exports fell in April from March as higher supplies to India and Turkey were offset by lower deliveries to China and Hong Kong, customs data showed.
Switzerland is the world's biggest bullion refining and transit hub while China and India are the largest consumer markets, where local demand depends on the season and is sensitive to high gold prices.
Swiss gold exports to India jumped month on month and year on year to the highest since February, when local jewellers stocked up for the wedding season. GOL/AS
SWISS TOTAL GOLD EXPORTS (in kgs)*
|
EXPORT |
|
|
April 2024 |
123,590 |
|
March 2024 |
146,816 |
|
April 2023 |
113,368 |
EXPORTS TO KEY MARKETS (in kgs)
|
To China |
To Hong Kong |
To India |
To Turkey |
|
|
April 2024 |
36,541 |
7,710 |
24,588 |
9,952 |
|
March 2024 |
71,405 |
10,173 |
6,595 |
7,387 |
|
April 2023 |
52,734 |
5,088 |
7,024 |
1,508 |
* Source: Swiss customs. Data subject to revision.