1. Swiss gold exports to India surge in July

Swiss gold exports to India surge in July

Switzerland's gold shipments to number one consumer India more than tripled in July from the previous month, data from the Swiss customs bureau...

By: | London | Published: August 20, 2015 9:50 PM
Swiss gold exports to India totalled 69,393 kg in July. (Reuters)

Swiss gold exports to India totalled 69,393 kg in July. (Reuters)

Switzerland’s gold shipments to number one consumer India more than tripled in July from the previous month, data from the Swiss customs bureau showed on Thursday, though exports to China and Hong Kong fell.

Swiss gold exports to India totalled 69,393 kg in July, the data showed, against 21,493 kg the previous month, helping drive total exports to a four-month high of 164,665 kg, up 67 percent month on month.

Despite a 15 percent rise in total gold imports to 175,851 kg, that pushed net imports to their lowest since April last year at 11,186 kg.

Combined shipments from Switzerland, a major refining, processing and storage centre for precious metals, to China and Hong Kong eased to 27,920 kg last month, their lowest since August and down 13 percent from June, the data showed.

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