Swiss shipments to China and India plunged after the coronavirus emerged last yearSwiss exports of gold to India edged higher in June, although they remained far below levels earlier this year, and shipments to mainland China fell, Swiss customs data showed on Tuesday.China and India are the world's largest consumers of gold, while Switzerland is the world's largest gold refining centre and transit hub.Swiss shipments to China and India plunged after the coronavirus emerged last year, and exports to India, which were averaging nearly 60 tonnes a month in the early part of the year, have fallen again in recent months as the Delta variant of the virus spread.Swiss gold exports to China and IndiaPhoto Credit: ReutersWith demand in Asia weak, more gold has flowed from Switzerland to Britain and the United States, both large trading and storage centres.Following are numbers for June and comparisons.SwissTradeData(Kg)EXPORT (kg)Jun-21 126,851May-21 82,315Jun-20 96,414ShipmentsToKeyMarkets(KG)To China To Hong To India To To theKong Britain United States Jun-21 19,000 12,749 6,292 38,396 28,199May-21 32,750 3,800 2,037 22,308 6,087Jun-20 0 10 900 4,234 68,265* Source: Swiss customs.
Data subject to revision by source.