Gold exports from Switzerland up 27% m/m in December as deliveries to UK jump
LONDON, Jan 29 (Reuters) - Gold exports from Switzerland rose 27% month on month in December as shipments to Britain jumped to their highest since August 2019, Swiss customs data showed on Thursday.
Deliveries from Switzerland, the world's biggest bullion refining and transit hub, to the UK, home to the world's largest over-the-counter gold trading hub, soared to 101 metric tons last month from 45 tons in November.
Having hit a record high of $5,594.82 per troy ounce, spot gold prices XAU= are up 24% so far in January after rising 64% in 2025 due to safe-haven demand. GOL/
Amid record-high prices, there were no deliveries to China in December, the data showed, while exports to India, another major bullion consumer, remained broadly steady - at only 1.9 tons.
Swiss total gold exports and supplies to key markets(in kgs):
December 2025 | November 2025 | December 2024 | |
Total trade | 138,977 | 109,516 | 128,424 |
UAE | 907 | 3,189 | 5,569 |
China | 0 | 12,010 | 4,000 |
Germany | 2,483 | 2,987 | 1,556 |
France | 10,892 | 21,964 | 1,644 |
United Kingdom | 100,820 | 45,033 | 14,422 |
Hong Kong | 43 | 338 | 2,102 |
India | 1,902 | 2,127 | 8,975 |
Italy | 615 | 1,257 | 2,952 |
Saudi Arabia | 275 | 2,071 | 5,775 |
Turkey | 9,327 | 7,737 | 9,184 |
USA | 5,816 | 168 | 69,247 |
Source: Swiss customs. Data subject to revision.
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