In the past month, too, large amounts of gold came from Switzerland to the USA. Since January it has been more than 400 tons – for reasons that are now well known.
Switzerland serves the world market with processed gold, especially in the form of gold bars in wholesale sizes. The USA has been the biggest buyer for months (Photo: Goldreporter).
–
Gold from Switzerland
The current foreign trade data for Switzerland for the month of July repeatedly illustrate the great demand for gold in the United States in recent months. According to data from the Federal Customs Administration, another 63 tons of gold were shipped to the United States last month. Since March, Swiss suppliers have sent a total of 412 tons of gold to the USA. Background: Swiss refineries serve more than half of the global demand for processed gold. And for months now, large amounts of gold have been required on the US commodity futures exchange for the physical delivery of gold futures contracts.
Other recipients
Overall, Swiss gold exports in July rose by 8.5 percent compared to the previous month to 102 tons with a value of 5.5 billion CHF (around 5 billion euros). Compared to the previous year, there is an increase of 4.5 percent. The largest customers recently also included Great Britain (13.69 tons) and India (14.9 tons). Germany received just under 3.5 tons of gold from Switzerland last month. Since January a total of 46.97 tons have been delivered from Switzerland to Germany.
Swiss gold imports
Switzerland’s gold imports in July totaled 170 tonnes with a value of CHF 7.08 billion. Compared to the previous month, there is an increase in value of 23.6 percent. Most of the gold came from Hong Kong (16 tons), the United Arab Emirates (15 tons), Thailand (15 tons) and the United Kingdom (10 tons). Please refer to the tables above for more details. The named precious metal is “gold, including platinum-plated gold, in raw form, for purposes other than monetary (excl. As powder)”.
Gold reporter
Always well informed about the gold market and the financial crisis: Subscribe to the free Gold Reporter Newsletter!
Ingeniously simple, safe and inexpensive: Bury gold, but do it right!
What to do in the event of a gold ban or gold shortage Contingency plan for gold investors
Gold in border traffic: With gold through customs
Short URL: https://www.goldreporter.de/?p=96052
Registered by Gold reporter
on Aug. 20, 2020. saved under Gold, gold bar, Trade, Market data, News, Switzerland, USA. You can follow all responses to this entry via RSS 2.0. You can skip to the end and leave a reply. Please note our forum rules. Pinging currently not possible
–
– .
