Switzerland sent 524 tonnes of gold to China last year, the most since 2018

[searcher]

Switzerland sent 524 tonnes of gold to China last year, the most since 2018​

January 24, 2023 — 05:09 am EST

LONDON, Jan 24 (Reuters) - Swiss exports of gold to countries including China, Turkey, Singapore and Thailand surged to multi-year highs last year, Swiss customs data showed on Tuesday, as low prices boosted demand from consumers in Asia and the Middle East.

Full article:

https://www.nasdaq.com/articles/switzerland-sent-524-tonnes-of-gold-to-china-last-year-the-most-since-2018

 

[OldGarandDad]

I love how the people who write these pseudo click-bait articles never mention or quantify how much of that gold left the country in exports of gold panda coins, jewelry fabrication or as electronic components. Yes. Give the size of the figure it is a substantial amount but also note that China has a large back door problem with its corruption wealth being exported and hidden from the CCP and certain client countries that won't or can't take Chinese currency for settlement of delivered raw materials or debts.

 

[searcher]

Sal's take..................(nothing earth shaking)

ALERT! We Know Where China Got So Much Gold Last Year!​

11:31

 

[nickndfl]

What are the Swiss taking as payment unless they are buying chinese crap with it?

 

[pmbug]

* bump *

Sept 19 (Reuters) - Swiss gold exports rose by 7.3% in August from July as higher deliveries to India and China offset lower supplies to Turkey, customs data showed on Tuesday.

Switzerland is the world's biggest bullion refining and transit hub, while China and India are the largest consumer markets with local demand sensitive to high prices and time of the season.

Supplies to India, where jewellers usually make purchases for the October-November festival season, jumped by almost threefold to their highest since May, while shipments to China rose 1%, the data showed.

China's physical gold premiums soared to a new high last week, amid strong demand to shore up a depreciating yuan and a lack of fresh import quotas.
...

Swiss gold exports up in August due to higher shipments to India

Swiss gold exports rose by 7.3% in August from July as higher deliveries to India and China offset lower supplies to Turkey, customs data showed on Tuesday.

www.reuters.com