SEATTLE (Scrap Monster): The latest trade statistics published by Swiss Customs indicate that gold exports from that country to China surged higher significantly during the month of October this year. The Swiss monthly gold exports to China hit the highest level since June 2018. On the contrary, the gold shipments to India recorded marginal decline, in comparison with the prior month.
Incidentally, China and India continued to be the two largest gold consumers in the world. The gold demand in both these countries had registered notable decline during the pandemic period last year. The demand has started to recover after that and in now gaining further pace, data suggest.
A total of 142,700 kilograms of gold were exported out of Switzerland in October 2021. This is significantly higher when compared with exports of 117,369 kilograms in September and 90,472 kilograms in October last year. The country exported 58,525 kilograms of gold to China, 16,685 kilograms to Hong Kong and 40,912 kilograms to India during October this year.
The Swiss gold exports to India had surged to hit five-month high in August this year, while those to China had recorded decline.
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