Swiss Gold Exports to United States Skyrocket in 2022
Swiss shipments of gold to the United States
Swiss gold exports: Swiss gold exports to the United States fell to their highest level since May 2020 in March, according to Swiss customs data, as investors cited Russia’s invasion of Ukraine and the threat of cuts The world economy is full of bullion.
Swiss gold exports to the UK, which, like the United States, is a center for investment in the gold trade, have increased, while gold exports to China and India, the largest consumer markets, and have fallen rapidly.
Switzerland is home to the largest amount of gold commerce in the world, an asset that is often seen as a safe haven for saving wealth in times of economic and political turmoil.
ETFs have Invested over $15 Billion in Gold
Exchange-traded funds (ETFs), which store gold for investors, added 185 tonnes worth $15 billion to their inventory in March, which is the most since July 2020, according to the World Gold Council.
This strong investor demand pushed gold prices higher in February and March. High prices often discourage customers in Asia. Swiss exports to mainland China and Hong Kong in March fell to their lowest level in a year, while exports to India were at their lowest since May 2021.
Swiss gold exports to mainland China and Hong Kong fell to their lowest level in a year in March, and exports to India were the lowest since May 2021. Exports to the UK were the highest since June 2021.
Gold was trading at $1,900 an ounce on Tuesday, April 26.
Following are numbers and comparisons.
SWISS TRADE DATA (KG)
|
EXPORT (kg)
|
|
|
Mar-22
|
147,036
|
|
Feb-22
|
121,655
|
|
Mar-21
|
134,566
|
SHIPMENTS TO KEY MARKETS (KG)
|
|
To China
|
To Hong Kong
|
To India
|
To Britain
|
To the U.S.
|
|
Mar-22
|
11,000
|
55
|
4,952
|
17,980
|
81,548
|
|
Feb-22
|
35,500
|
10,575
|
32,761
|
5,295
|
3,541
|
|
Mar-21
|
9,389
|
31
|
82,641
|
469
|
1,514
|
* Source: Swiss customs. Data subject to revision by source.
(News Source: Reuters)
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