China takes 45 percent of Swiss Gold exports in February

Shanghai-China (Mar 22)  Commerzbank has reported that 45% of the gold exported out of Switzerland last month went to China.

 Analysts cited a data from the Swiss Federal Customs Administration showing that Switzerland exported 146 tons of gold last month, with 113 going to China, Hong Kong and India.

 Sixty-six tons were exported directly to China, the largest quantity since December 2016. A lot of gold was already exported to China in January, presumably because of the Chinese New Year’s festival.

 At just shy of 28 tons, gold exports to India in February were almost twice as high as in January, but well below last February’s level.

 The data tally with the weaker figures already released by the Indian Ministry of Finance.

ScraptMonster