Published: 2020.07.23. Switzerland has sent 349 tons of gold to the US since March

Switzerland has sent 349 tons of gold to the US since March - Preview

The Swiss customs service has published data on the country's foreign trade for June 2020, including the import-export of gold. It is worth recalling that Swiss refineries process almost half of the world's precious metal. They produce investment bars of various sizes for both private and institutional investors.
At the end of June 2020, Switzerland exported 96.41 tons of gold for a total of 5.1 billion francs (4.74 billion euros). The largest volume of the yellow precious metal in the amount of 68 tons was sent to the USA. In total, since March of this year, the States have received 349 tons of gold from the Alpine Republic. The main reason: a sharp increase in demand for physical precious metal from traders on the COMEX futures exchange in New York.
The remaining recipients of Swiss gold were the following countries: France (11.6 tons), Great Britain (4.2 tons), Germany (3.3 tons). China has ceased to appear in the list of the largest buyers of the yellow precious metal from Switzerland. India received only 900 kg.
As for imports, in June, 167.61 tons of gold were imported into the country for a total of 5.7 billion francs - a 35% decrease compared to May, but an increase of 146% compared to June 2019.
The largest suppliers of gold to Switzerland were Hong Kong (17 tons), the United Arab Emirates (12.5 tons), Great Britain (11.6 tons) and Italy (7.5 tons). Low-quality yellow precious metal was imported from Peru and Chile for further refining in the volume of 11.8 tons and 26.5 tons, respectively.