Switzerland trading a lot of gold with the USA

The United States received a total of 280 tons of gold from Switzerland between March and May. Last month alone, it was 126 tons. The bottleneck on the US commodity futures exchange was obviously big – gold for the USA.

Switzerland’s current foreign trade data shows once again how dramatically gold demand in the United States has increased in the past two months. We have reported several times on the bottleneck on the US commodity futures exchange COMEX (turbulence on the gold market – this happened in the USA!). After Switzerland delivered 111 tons of gold to the United States last April, another 126 tons of gold were delivered in May. With the 43 tons exported in March, a total of around 280 tons of gold came from Switzerland to the United States during the period of the Corona crisis.

 

No gold for Asia

Meanwhile, almost no gold came from Switzerland to Asia. India and Thailand each received only around 500 kilos of the precious metal. Overall, Swiss gold exports rose in May by 14 percent in value to CHF 7.6 billion (EUR 7.1 billion). Compared to May 2019 there is even an increase of 78 percent. Where does all the gold for the US come from?