Tag Archives: TRADE / GOLD (PIX)

Demand for Asian gold rebounded in line with the surge in Swiss exports to India | Instant News


    LONDON, March 18 (Reuters) - Switzerland in February sent
gold to mainland China for the first time since September and
shipments to India and Thailand rose to multi-year highs,
suggesting that demand for bullion in Asia is recovering from
the coronavirus shock. 
    Switzerland is the world's biggest gold refining centre and
transit hub, while India and China are the two biggest gold
consumers and Thailand is a regional trade hub. 
    Demand from all three Asian countries plunged last year as
the coronavirus spread and has been slowest to recover in China.

    
    
    One reason for the pick-up is a steady decline in gold
prices from record highs last August. Most gold in Asia
is sold as jewellery and buyers are put off by high prices.   
    Swiss customs data showed that in February Switzerland
exported 56.5 tonnes of gold to India, 11.2 tonnes to Thailand,
2 tonnes to mainland China and 1 tonne to Hong Kong. 
    That is biggest total to India for any month since April
2019, to Thailand since August 2018 and to Hong Kong since
September. It is the first shipment of any gold at all to China
since September. 
    Following are numbers for February and comparisons. 
            
    SWISS TRADE DATA (KG)         
          EXPORT (kg)
  Feb-21      102,850
  Jan-21       82,033
  Feb-20       42,759
           To China   To Hong    To India   To the     To
                      Kong                  U.S.       Britain
   Feb-21      2,000      1,045     56,472     12,031         77
   Jan-21          0         28     38,696     16,666      5,216
   Feb-20      2,000         10      9,591        361      9,256
    * Source: Swiss customs. Data subject to revision by source.
    
    

    
 (Reporting by Peter Hobson; Editing by Kirsten Donovan)
  

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Swiss monthly gold exports to India hit their highest level since May 2019 | Instant News


    LONDON, Feb 18 (Reuters) - Switzerland's monthly gold
exports to India in January reached their highest since May
2019, though exports to China and Hong Kong remained at rock
bottom, customs data showed on Thursday. 
    India and China are the world's two biggest gold consumers.
Demand for bullion plunged in both when the coronavirus struck
last year but has bounced back in India much more quickly.

    Switzerland is the world's biggest gold refining centre and
a transit hub.
    Following are numbers for January and comparisons. 
        
    SWISS TRADE DATA (KG)        
           EXPORT
   Jan-21      82,025
   Dec-20      76,549
   Jan-20      87,444
    
           To China  To Hong    To India   To the     To
                     Kong                  U.S.       Britain
   Jan-21         0         28     38,696     16,666      5,216
   Dec-20         0        263     34,500     14,496        265
   Jan-20    17,000     23,583      8,541        574      6,344
    * Source: Swiss customs. Data subject to revision by source.
    
    
    

    
 (Reporting by Peter Hobson
Editing by David Goodman
)
  

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