German Commercial Bank: Switzerland's Gold Exports In August Hit Its Lowest Level Since 2014

- Sep 26, 2017-

In September 22nd, Swiss customs data showed that the country's gold exports were 71 tons in August, the lowest level in three years.

German Commercial Bank (Commerzbank) 22, said: "Swiss gold exports in August at least since early 2014, the monthly level."."

The bank said gold exports to India last month were only 15.9 tonnes, down 27% from last August, the lowest in 13 months.

Switzerland exported 20.7 tons of gold to mainland China and Hongkong in August, down 53% year on year, the lowest level in three years.

German commercial bank said: "the gold consumers in Asia have shown a strong sensitivity to the rising gold price, and the quantity of gold exported to Thailand and South Korea has also declined significantly."."

For example, the price of gold denominated in India rupee and renminbi rose sharply in July and August, which may deter buyers. In itself, the current price of gold is an important lack of demand factors, the total demand for gold in India and China accounted for more than half of global gold demand."