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  • Switzerland imports record U.S. gold in April, highest since 2012

    Wed May 28 2025

    The situation on the market has been very interesting lately.

    In April, Switzerland imported the most gold from the United States since early 2012, when the customs administration began publishing the data. Switzerland is the world's largest center for gold refining and gold bullion transit, and Great Britain is the world's largest center for direct gold trade.

    From December to March, both countries recorded a huge outflow of gold to the US, which triggered traders' fears that the US could limit imports with tariffs, Reuters interprets. Under such conditions, gold prices in New York were higher than in London and other trading centers, and bullion traveled across the Atlantic in large numbers, according to S&P Global in the analysis.

    Washington then exempted precious metals from the new tariffs and in April Swiss gold imports from the US more than doubled compared to March, jumping from 25.5 tons to 63 tons, the highest level since the beginning of 2012, the customs administration announced.

    Swiss gold exports

    Total Swiss gold exports fell by 31 percent on a monthly basis. US shipments almost melted away, slipping to just 12.7 tons. Gold exports to Great Britain increased on a monthly basis, which means that gold from the USA is returning to London via Switzerland, Reuters explains.

    Switzerland imported 1.6 tons of gold of Russian origin worth 138 million francs from Britain, the customs administration announced. The volume and value of imports were about five times higher than in March, the data show.

    Shipments to traditional gold-consuming markets – India and China – recorded monthly growth in April. However, these figures are still lower than the levels recorded in April of the previous year. These changes in international gold flows clearly reflect the sensitivity of the precious metals market to trade policies and customs regulations. Detailed data on total Swiss gold exports and shipments to key markets are available from Swiss Customs, with the caveat that the data is subject to revision.

     

    Source: https://www.financial-world.org

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