Swiss gold exports drop 8% in January as deliveries to UK fall

LONDON, Feb 19 (Reuters) - Gold exports from Switzerland in January fell 8% from the previous month as shipments to Britain slowed, though deliveries to China and India jumped, Swiss customs data showed on Thursday.

Deliveries from Switzerland, the world's biggest bullion refining and transit hub, to the UK fell to 43 metric tons last month from 101 tons in December. The UK is home to the world's largest over-the-counter gold trading hub.

Having hit a record high of $5,594.82 per troy ounce on January 29, spot gold prices XAU= are up 16% this year after rising 64% in 2025 on safe-haven demand. GOL/

Ahead of the Chinese Lunar New Year holidays that began in mid-February, January exports to China totalled 23 tons, after zero shipments in December. Supplies to India, meanwhile, jumped to 23 tons from 2 tons. GOL/AS

Swiss total gold exports and supplies to key markets(in kg):

Source: Swiss customs. Data subject to revision.