Greater China’s imports of Swiss gold continue strong
“Exports to Asia and the Middle East totalling 99.2 tonnes accounted for 85.7% of Swiss gold exports once again emphasising the continuing strength in gold flows from west to east with 92.7% of Swiss gold imports coming from the UK, the USA, France, Germany, Italy and gold producing nations.”
USAGOLD note: Most of the gold inflow to Switzerland is being channeled through the London gold market. From Switzerland it is shipped to Hong Kong and Shanghai. The larger London delivery bars are sent to Switzerland to be recast as the kilo sized bars traded on the Shanghai Exchange.