Switzerland Shipped 96.4 Tonnes of Gold in June

SEATTLE (Scrap Monster): The recently published trade data by the Swiss Customs authorities indicate clear change in trend in shipments of gold to outside markets. The gold exports to the U.S. registered notable decline. Also, the shipments to traditional markets such as India and China continued to remain impacted.

The total gold exports by the country were 96.414 tonnes during the month of June this year. This is significantly lower when compared with the imports of 141.874 tonnes in the prior month. However, the export volumes almost doubled, upon comparison with those during the same month a year before. The Swiss gold exports had totalled 48.408 tonnes in June last year.

Switzerland’s gold exports to the U.S. dropped from the peak of 126.551 tonnes in May this year to nearly 68.265 tonnes in June. The exports to India were up from 503 tonnes to 900 tonnes over the month. The exports to Hong Kong dropped to 10 tonnes, whereas those to China remained at zero, for the fourth month in a row.

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Meantime, the combined exports during the four-month period from March to June to the U.S. totalled 349.7 tonnes. At the same time, China, Hong Kong and India together received only around 8.7 tonnes of gold. The data clearly suggests change in trend in gold shipments out of the country.