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Swiss Gold Exports Hit A 2-Year High

Swiss Gold Exports Hit A 2-Year High

According to data released by Swiss Customs, the largest gold exporter, on November 19, Swiss gold exports in October 2021 were 142.7 metric tons, a record high in more than two years since August 2019; an increase of 21.6% from the previous month and 90.5 from the same period last year. The metric tons increased by 57.7%. Among them, gold exports to China reached 58.5 metric tons, setting a new high since June 2018, becoming the largest export market of the month; an increase of 170% from 21.7 metric tons in the previous month, and zero exports in the same period last year. From January to October this year, Swiss gold exports to China increased by 624% annually to 221.8 metric tons. In October 2021, Swiss gold exports to India decreased by 19% to 40.9 metric tons from 50.45 metric tons in the previous month, but increased 68% from 24.33 metric tons in the same period last year. From January to October this year, Swiss gold exports increased by 11.7% annually to 1,129.8 metric tons, of which gold exports to India increased by 384% annually to 440.8 metric tons, accounting for 39%, making it the largest export market. From July to September this year, India is the largest market for Swiss gold exports.



Source: Money DJ
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