Swiss March gold exports down on lower shipments to India

Reuters04-18

LONDON, April 18 (Reuters) - Swiss gold exports in March fell from February as higher supplies to China and Hong Kong were offset by lower deliveries to India and Turkey, customs data showed on Thursday.

Switzerland is the world's biggest bullion refining and transit hub while China and India are the largest consumer markets, where local demand depends on the season and is sensitive to high gold prices.

Swiss gold exports to India fell month on month and year on year. The supplies in February were at a four-month high as local jewellers stocked up for the wedding season.

Due to a rally in spot gold prices in March-April , Indian customers are struggling to adjust to the sudden price jump, and local dealers have been offering physical gold price discounts for six consecutive weeks.

In China, where the central bank controls the inflow of gold via import quotas issued to banks, physical gold premiums have been rising so far in April as a weaker yuan supports local demand.

SWISS TOTAL GOLD EXPORTS (in kgs)*

EXPORT

March 2024 146,691

February 2024 157,492

March 2023 152,924

EXPORTS TO KEY MARKETS (in kgs)

To China To Hong Kong To India To Turkey

March 2024 71,405 10,173 6,595 7,262

February 2024 54,625 9,780 36,615 7,571

March 2023 72,316 17,507 16,767 10,748

* Source: Swiss customs. Data subject to revision.

(Reporting by Polina Devitt; Editing by Mark Potter)

((polina.devitt@thomsonreuters.com; Reuters Messaging: polina.devitt.thomsonreuters.com@reuters.net))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2428594000?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-18 21:53","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2428594000","market":"fut","top_or_hot":-1,"title":"Swiss March gold exports down on lower shipments to India","media":"Reuters","content":"<html><body><p>LONDON, April 18 (Reuters) - Swiss gold exports in March fell from February as higher supplies to China and Hong Kong were offset by lower deliveries to India and Turkey, customs data showed on Thursday.</p><p>   Switzerland is the world's biggest bullion refining and transit hub while China and India are the largest consumer markets, where local demand depends on the season and is sensitive to high gold prices.</p><p>   Swiss gold exports to India fell month on month and year on year. The supplies in February were at a four-month high as local jewellers stocked up for the wedding season.</p><p>   Due to a rally in spot gold prices in March-April   , Indian customers are struggling to adjust to the sudden price jump, and local dealers have been offering physical gold price discounts for six consecutive weeks.</p><p>   In China, where the central bank controls the inflow of gold via import quotas issued to banks, physical gold premiums have been rising so far in April as a weaker yuan supports local demand.   </p><p>   SWISS TOTAL GOLD EXPORTS (in kgs)*</p><p>                                  EXPORT</p><p>March 2024                       146,691</p><p>February 2024                    157,492</p><p>March 2023                       152,924</p><p>   EXPORTS TO KEY MARKETS (in kgs)     </p><p>                To China  To Hong Kong   To India    To Turkey</p><p>March 2024        71,405        10,173      6,595        7,262</p><p>February 2024     54,625         9,780     36,615        7,571</p><p>March 2023        72,316        17,507     16,767       10,748</p><p>   * Source: Swiss customs. Data subject to revision.</p><p> (Reporting by Polina Devitt; Editing by Mark Potter)</p><p>((polina.devitt@thomsonreuters.com; Reuters Messaging: polina.devitt.thomsonreuters.com@reuters.net))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Swiss March gold exports down on lower shipments to India</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSwiss March gold exports down on lower shipments to India\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-18 21:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LONDON, April 18 (Reuters) - Swiss gold exports in March fell from February as higher supplies to China and Hong Kong were offset by lower deliveries to India and Turkey, customs data showed on ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IAU","symbol_name":"黄金信托ETF(iShares)","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2428594000","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428594000","pubTimestamp":1713448386,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"LONDON, April 18 (Reuters) - Swiss gold exports in March fell from February as higher supplies to China and Hong Kong were offset by lower deliveries to India and Turkey, customs data showed on Thursd","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF","IAU":"黄金信托ETF(iShares)","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GLD":"SPDR黄金ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","GDX":"黄金矿业ETF-VanEck"},"translate_title":"瑞士3月黄金出口下降，原因是对印度的出货量减少","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"159934":0.6,"518880":0.6,"GCmain":0.9,"MGCmain":0.9,"DUST":0.6,"SGCmain":0.6,"SGUmain":0.6,"GDX":0.6,"GLD":0.6,"IAU":0.6,"NUGT":0.6},"content_text":"LONDON, April 18 (Reuters) - Swiss gold exports in March fell from February as higher supplies to China and Hong Kong were offset by lower deliveries to India and Turkey, customs data showed on Thursday.   Switzerland is the world's biggest bullion refining and transit hub while China and India are the largest consumer markets, where local demand depends on the season and is sensitive to high gold prices.   Swiss gold exports to India fell month on month and year on year. The supplies in February were at a four-month high as local jewellers stocked up for the wedding season.   Due to a rally in spot gold prices in March-April   , Indian customers are struggling to adjust to the sudden price jump, and local dealers have been offering physical gold price discounts for six consecutive weeks.   In China, where the central bank controls the inflow of gold via import quotas issued to banks, physical gold premiums have been rising so far in April as a weaker yuan supports local demand.      SWISS TOTAL GOLD EXPORTS (in kgs)*                                  EXPORTMarch 2024                       146,691February 2024                    157,492March 2023                       152,924   EXPORTS TO KEY MARKETS (in kgs)                     To China  To Hong Kong   To India    To TurkeyMarch 2024        71,405        10,173      6,595        7,262February 2024     54,625         9,780     36,615        7,571March 2023        72,316        17,507     16,767       10,748   * Source: Swiss customs. Data subject to revision. (Reporting by Polina Devitt; Editing by Mark Potter)((polina.devitt@thomsonreuters.com; Reuters Messaging: polina.devitt.thomsonreuters.com@reuters.net))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428594000"}