- Analytics
- News and Tools
- Market News
- Swiss Gold exports reflect weak demand for Gold in Asia – Commerzbank
Swiss Gold exports reflect weak demand for Gold in Asia – Commerzbank
The Swiss Federal Customs Authority published data on Gold exports in October this week, Commerzbank’s commodity analyst Carsten Fritsch notes.
Gold demand in Western countries is picking up
“These revealed very different trends. Deliveries to China were significantly weaker at just 5 tons. Virtually no Gold was exported to Hong Kong. On the other hand, there was an increase in exports to India. However, the level in October was still comparatively low at 11.7 tons. Slightly more Gold was delivered to the US than in the previous month.”
“However, the inflows of 30 tons into the US-listed Gold ETFs reported by the World Gold Council (WGC) in October would have suggested a higher figure than the reported 9.4 tons. Very surprising is the strong increase in Swiss Gold exports to the UK to 31.9 tons, although the Gold ETFs listed there recorded outflows in October according to the WGC.”
“All in all, the picture of subdued Gold demand in Asia is confirmed, while Gold demand in Western countries is picking up.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
