Switzerland is now the largest agent for international gold exports with several refineries engaged in the import of gold bars and other commodities.
In 2014, Switzerland purchased 1,755 tons of gold. These were refined again and exported.
China was the biggest buyer of the yellow metal from Switzerland last year. It accounted for more or less 34 percent followed closely by India at 27 percent. Data also pointed out gold exports for Hong Kong (63 percent) and Mainland China (73 percent).
Switzerland is not the lone source of Hong Kong and Chinese imports. However, there is a growing amount of the metal imported directly from mines managed by Chinese companies that operate abroad. This gives rise to assumptions that at the moment up to 40 percent or even more of gold imports from this Asian country are entering the European country directly instead of through Hong Kong.
According to www.sharelnx.com, Swiss exports came in the following order: Hong Kong – 36.4 tons; India – 27.4 tons; and, Mainland China (18.8) tons.
Such figures also implied that aggregate demand for China continued to be solid while demand in India edged lower. Combined exports to these three countries declined compared to previous exports early this year mainly because of the seasonal variations. These discrepancies can come month to month in the breakdown of exports.