Swiss Feb gold exports down on lower shipments to China, Hong Kong
Swiss gold exports in February fell month on month, coming off an eight-year high that was powered by demand ahead of China's Lunar New Year holiday, customs data showed on Tuesday.
Swiss gold exports to India rose month on month and year on year to their highest since October 2023 as local jewellers stocked up for the wedding season.
Switzerland is the world's biggest bullion refining and transit hub while India and China are the largest consumer markets.
Analysts and traders expect India's gold imports to decline this month after gold prices 
GOLD hit a record high of $2,194.99 on March 8.
SWISS TOTAL GOLD EXPORTS (in kgs)*
EXPORT | |
February 2024 | 157,645 |
January 2024 | 206,971 |
February 2023 | 182,602 |
EXPORTS TO KEY MARKETS (in kgs)
To China | To Hong Kong | To India | To Turkey | |
February 2024 | 54,625 | 9,780 | 36,615 | 7,571 |
January 2024 | 77,807 | 44,573 | 14,000 | 6,460 |
February 2023 | 57,990 | 25,265 | 25,644 | 43,467 |
* Source: Swiss customs. Data subject to revision.