Swiss Gold exports to US shoot up in July

SWITZERLAND August 25 2016 4:34 PM

SWITZERLAND (Scrap Register): Switzerland gold exports increased 19 percent to 192 metric tons (mt) in July compared to an year ago, as per the Swiss federal customs data. This is the highest monthly export total since December last year and is 13% higher than 171 mt reported in June this year. Exports to US have increased this year to 68 mt compared to 8.5 mt in the whole of 2015.

Total gold exports from Switzerland now reached 1037 mt in January-July from 989 mt in the same period last year, an increase of 4.9 percent. It also increased 20 percent on the month to 24 mt in July.

Exports to India falls again, down 22% on the month, which is the lowest monthly total since March and 74% lower on the year, at 16.2 mt in July. Total exports to India now stand at 152.3 mt in January-July, down 45% on the year.

Exports to China and Hong Kong were highr in July. Exports to China for January-July were 174 mt, 17% higher on the year. Total exports to Hong Kong are at 154.3 mt for the year, 32% lower than the same period in 2015. Exports to Singapore totaled 2.9 mt in July, down 74% on the year.