Home / Metal News / Switzerland September Gold exports to India hit best since January

Switzerland September Gold exports to India hit best since January

iconOct 21, 2016 19:34
Commerzbank cited the signs of improving physical gold demand in India, including increased shipments to the country from Switzerland and a premium in Indian gold prices. 

UNITED STATES October 21 2016 2:01 PM

NEW YORK (Scrap Register): Commerzbank cited the signs of improving physical gold demand in India, including increased shipments to the country from Switzerland and a premium in Indian gold prices. 

Swiss data show the country exported 74.6 tons of gold to China, Hong Kong and India in September, said Commerzbank, adding that this was 13% more than in August although 29% less than September 2015.

Whereas gold exports to Hong Kong were not even half as high as they had been in the previous month, significantly more gold was shipped directly to China.

“What is more, Swiss gold exports to India climbed to their highest level since January, which points to demand recovering there. There are also other signs that this is the case; according to the All India Gems & Jewelry Trade Federation, gold prices in India this week were trading at a premium on world market prices again for the first time in nine months. According to the Federation, demand was recently boosted above all by the festival season,” the bank added.

Gold exports

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

SMM Events & Webinars

All