Swiss January gold exports highest in six years on strong Asian sales

Jewelleries on display at Luk Fook Jewellery store in Hong Kong. Stock image.

Swiss gold exports surged in January to their highest level since December 2016, customs data showed on Tuesday.

Monthly export volumes from the world’s biggest bullion refining and transit hub rose 49% from a year ago, driven by robust sales to China and Hong Kong.

“Year of the Dragon” fuelled the jewellery demand as this is seen as a traditionally auspicious year for gold purchases in China.

Gold prices have stayed close to multi-year highs since December. Reuters‘ latest poll of analysts expects the precious metal to average $2,053.50 per ounce in 2024.

(By Julian Luk; Editing by Ed Osmond)


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