Gold imports from Switzerland declined in May
Switzerland's gold exports declined in May, driven by a decrease in shipments to Turkey, China, and India.
12punto
According to data on the Swiss Federal Customs Administration's website, Switzerland's total gold exports were 103.4 tons in May. This figure was 123.6 tons in April.
While Switzerland's gold shipments to India and Hong Kong fell sharply in May, gold shipments to Turkey and China saw a slight decline.
CHINA TOPS IMPORTS
In May, Switzerland exported 36.2 tons of gold to China, 1.5 tons to Hong Kong, 14 tons to India, and 9.5 tons to Turkey. Switzerland's gold exports to Turkey had stood at 10 tons in April.
Switzerland is the world's largest bullion refining and transit hub. China and India are the world's largest consumer markets, with local demand sensitive to high prices and seasonality.
The spot price of gold per ounce reached historic highs in May.