📉 Swiss Gold Exports Fall Sharply in November as Shipments to India Plunge

Gold exports from Switzerland, the world’s biggest bullion refining and transit hub, fell 15% in November, largely due to a collapse in shipments to India — while deliveries to China and the UK were comparatively stronger.

🇨🇭 Export drop: Swiss gold exports declined 15% month‑on‑month in November.

🇮🇳 India slump: Shipments to India plunged to just ~2 tonnes, down from 26 tonnes in October — the lowest since February, amid high global prices.

🇨🇳 Shift in flows: Exports to China rose to ~12 tonnes, and shipments to the UK jumped to ~45 tonnes as bullion moved through key trading hubs.

The sharp fall in exports to India — a top consumer market — underscores price‑sensitive demand dynamics as gold recently traded near record levels. Meanwhile, stronger flows to China and the UK highlight how global bullion trade routes adjust quickly to shifting regional demand.

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