Gold delivery from London to Switzerland increased by 32 %
Latest foreign trade numbers in Switzerland list global gold transactions through their international gold hub for May.
According to gold export and import numbers, released in May 2014 by the Swiss Customs Administration, gold exports have dropped by 13.63 percent to 96.65 tons worth 3.57 bn. Swiss Francs (€ 2.93 bn.).
Swiss gold imports however increased by 5.55 percent to 128.62 tons worth 3.64 bn. Swiss Francs (€ 2.99 bn.). The report states this includes “gold, including platinised gold, unwrought, for other than monetary purposes (except as powder)”.
As in the previous month India with (rounded) 32.6 tons was the No.1-buyer of Swiss gold, though in terms of value purchases were 0.44 percent lower than in April. Hong Kong purchased some 59 percent less gold, deliveries to China considerably declined by -83 percent. Only 2 tons of gold found their way from Switzerland to China in May.
Germany purchased 6,449 kilos of gold, an increase of 2 percent compared to last month. Austria, with 1,414 kilos also extended its gold purchases from Switzerland by 12.37 percent. For details about the recipients please see the above table (top-20 listed).
Gold deliveries to the UK rose considerably. With 31.72 tons, the UK purchased 32 percent more gold from Switzerland than the previous month. Amongst others, gold holdings of the US-Gold-ETF Gold Trust are stored in London vaults. Swiss gold imports from Russia also increased considerably, doubling to 5.8 tons.
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