Swiss Gold Exports Declines

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Swiss Gold Exports Declines

Swiss Gold Exports To Us Falls To Zero

commodity analyst from Commerzbank has pointed out the situation of Gold exports in Switzerland. According to them, the export of Swiss Gold to the USA has dropped to almost zero.

This was revealed in the data published by the Swiss customs authorities and shows a big change. Overall, the data showed mixed results as the export of Gold to China has jumped to 35 tons.

Gold Export To China At Yearly Highs

Right now, the export of Swiss Gold to China has been sitting at yearly highs! At the same time, the delivery of Gold to India is also up and sitting at the highest level for the year.

The increased export to China and India shows a steady demand for Gold in both countries. Also, it seems that the buyers now accept the higher prices of Gold and thus are not waiting for a price correction.

But what's worrying is the fact that almost zero Gold was being exported into the USA. According to experts, this has to do with the fact that the US authorities announced tariffs on Gold imports.

Although the US authorities quickly removed the tariffs on Gold, the damage was already done. Even today, the uncertainty is very high as many expect the US to reintroduce the tariffs on Gold at any time.

So, to protect the shipments from the heavy US tariffs, Switzerland is not sending any gold to the US for now. But if the US continues to keep Gold a tariff-free item, the Gold shipments could resume once again.

It's worth noting that the US is also a very big market for Gold. So, this temporary pause in the Gold imports isn't something long-term.

In fact, even if the US introduces tariffs on the Gold, the import of gold into the US will start once again. After all, the US consumers would have to work with the new reality!

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