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Switzerland Exports More Gold To China In October

Switzerland exports gold
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EDITOR'S NOTE: China keeps gobbling up gold as the world’s economic future remains uncertain. A report in the financial post shows that Switzerland has exported more gold to China in October than in any month since June 2018. According to Swiss customs reports, India is right behind China in gold exports from the European country. Switzerland sent 142,700 kg of gold to China in October 2021 compared to 117,369 kg in September 2021 and 90,472 kg in October 2020. China’s appetite for gold has been trending upward for some time now and bears watching as a sign of what is to come on the global stage moving forward. 

LONDON — Switzerland exports more gold to

China in October than in any month since June 2018, according to

Swiss customs data on Thursday 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.

Switzerland 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.

(Reporting by Peter Hobson; editing by David Evans)

Originally posted on Financial Post.

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