A discreet crossroads for the world’s gold

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Published : February 13th, 2017
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Category : Market Analysis

Swissinfo.ch/Duc-Quang Nguyen/2-10-2017

“As a result, the customs office did not include in the export tallies the more than 2,000 tonnes of gold worth CHF80.5 billion that it said were “exported” in 2016, just slightly more than the Swiss pharma trade’s exports. By comparison, the Swiss gold export was roughly equal to Sri Lanka’s entire annual GDP in 2015 and accounts for about four-fifths of all the gold that the world extracts in a year (about 2,500 tonnes).”

MK note:  Remarkable. We’ve written extensively about the London-Zurich-Hong Kong-Shanghai gold pipeline.  These statistics demonstrate the breadth and depth of the physical gold market.  The ultimate source is London-based gold ETFs and London’s bullion banks.  The reason for the stop in Switzerland on the way to the East is to reconfigure the large 400-troy ounce LBMA good delivery bars to the 32.15 ounce kilo bars traded on the Shanghai and Hong Kong gold exchanges.

Source : www.usagold.com
Data and Statistics for these countries : Georgia | Hong Kong | Switzerland | All
Gold and Silver Prices for these countries : Georgia | Hong Kong | Switzerland | All
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Michael J. Kosares is the founder of USAGOLD-Centennial Precious Metals, Inc., the author of "The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold", and numerous magazine and internet articles and essays. He is also writes a popular weekly Client Letter on the gold market. Mr. Kosares is frequently interviewed in the financial press and is well-known for his on-going commentary on the gold market and its economic, political and financial underpinnings. He has over 30 years experience in the gold business. USAGOLD-Centennial Precious Metals is one of the oldest and most prestigious gold firms serving private investors in the United States, Europe, Canada and Australia.
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