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Swiss gold exports to China explode after coronavirus slump
From Reuters
Thursday, May 27, 2021
LONDON -- Swiss exports of gold to mainland China surged in April to their highest since December 2019, customs data showed today, as demand for gold in the world's biggest bullion-consuming nation rebounded from a slump during the coronavirus pandemic.
... Dispatch continues below ...
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Switzerland is the world's largest gold refining center and transit hub. Its numbers provide an insight into global market trends.
Swiss customs data show exports of 40.2 tonnes of gold worth around $2.5 billion at current prices to China in April -- more metal than was sent in the last 14 months combined.
Switzerland also sent 10.1 tonnes of gold to Hong Hong, the most since January 2020.
Reuters reported last month that China's central bank had granted commercial banks permission to import large amounts of bullion in April and May and around 150 tonnes of gold was likely heading to the country. ...
... For the remainder of the report:
https://www.reuters.com/article/swiss-trade-gold/swiss-gold-exports-to-c...
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