The price of gold is essentially unchanged
from where it finished last year. There have been several interesting
developments. Of particular note, China, India and Russia were
significant buyers last month.
It appears that the UK exported gold to
Switzerland where it was refined and then shipped to China and India.
Russia continues to accumulate gold even as its hard currency reserves
fall.
According to official Swiss data, its
shipments of gold to China almost doubled in March from February to 46.4 metric
tonnes. Swiss exports of gold to India doubled to a four month high
of 72.5 metric tonnes. On the other hand, Swiss gold exports to Hong
Kong fell by about a quarter to 30 metric tonnes in March.
No comments:
Post a Comment