Global Gold demand continues shifting from East To West-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Copper scrap
  • Primary lead
  • Copper
  • Customs data
  • Market commentary
  • Nickel
  • price forecast
  • Futures movement
  • MMi Iron Ore Port Index
  • Inventory data
  • Secondary lead
  • Morning comments
  • Evening comments

Global Gold demand continues shifting from East To West

Industry News 10:03:14AM May 26, 2016 Source:SMM

CHINA May 25 2016 1:36 PM     

LONDON (Scrap register): At least  for now, the flow of gold seems to be shifting from Eastern to Western nations,  said Commerzbank.

This is the reverse of the not-so-distant past.  Analysts cited data from Swiss customs authorities showing Switzerland exported  a total of 147.8 tons of gold in April, the most in three months.  

However, only a little shy of one-third of this total went to key  consumers China, Hong Kong and India, the bank pointed out.

“By  contrast, a large amount of gold was…exported to Great Britain again last month  – around 75 tons on a net basis, and thus half of total exports,” Commerzbank  continued. “In other words, the flow of gold from East to West is continuing.”  

“We view the current weakness of gold demand in Asia as only temporary  and expect demand to pick up noticeably during the course of the year,” analysts  added.


Key Words:  gold prices 

Global Gold demand continues shifting from East To West

Industry News 10:03:14AM May 26, 2016 Source:SMM

CHINA May 25 2016 1:36 PM     

LONDON (Scrap register): At least  for now, the flow of gold seems to be shifting from Eastern to Western nations,  said Commerzbank.

This is the reverse of the not-so-distant past.  Analysts cited data from Swiss customs authorities showing Switzerland exported  a total of 147.8 tons of gold in April, the most in three months.  

However, only a little shy of one-third of this total went to key  consumers China, Hong Kong and India, the bank pointed out.

“By  contrast, a large amount of gold was…exported to Great Britain again last month  – around 75 tons on a net basis, and thus half of total exports,” Commerzbank  continued. “In other words, the flow of gold from East to West is continuing.”  

“We view the current weakness of gold demand in Asia as only temporary  and expect demand to pick up noticeably during the course of the year,” analysts  added.


Key Words:  gold prices