Swiss gold exports re-distributed as Chinese imports curtailed
By GCRU Gold News on Thursday, August 22 2019, 06:11 - Permalink
As can be seen, destination Asia, which has been the principal recipient of Swiss gold exports in the past, has paled into virtual insignificance with a huge volume re-exported back to the UK – usually the principal source of Swiss gold imports. Reports put this down to big inputs into the principal gold ETFs which have their gold principally vaulted in London. Notably, in addition to the now low levels of gold being exported to China and Hong Kong, exports to India have fallen off a cliff as well. The suggestion here is that the recent higher gold price has led to buyers holding off and looking for a possible fall before re-entering the market. This stand-off will likely persist until either the price falls back, or purchasers just get used to the higher price levels.