Swiss customs data showed June gold exports fell 3% MoM as a drop in shipments
to the UK — the world’s largest OTC gold trading center — offset rises to India
and Saudi Arabia. Exports to the UK fell to 27.4 tonnes in June from 39.4 tonnes
in May. Shipments to India rebounded to 7.4 tons in June from 955 kg in May,
after May’s six-year low following India’s hike in precious-metals import
tariffs to support the rupee. Exports to Saudi Arabia tripled month-on-month to
10.3 tons in June.
