Gold flowing back from the United States to Switzerland – Commerzbank
|Another aspect of the Swiss Gold export data is worth mentioning: Gold shipments to the US slumped to 12.7 tons in April, while at the same time 63 tons of Gold were shipped from the US to Switzerland, Commerzbank's FX analyst Michael Pfister notes.
Gold shipments to the US slump in April
"In the previous three months, a total of 449 tons of Gold had been shipped from Switzerland to the US. The reversal in direction is due to the development of COMEX Gold inventories. These had risen massively in the first three months of the year due to concerns about possible US import tariffs."
"Since the beginning of April, there has been a continuous decline in COMEX stocks as Gold has been exempted from the tariffs."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.