TREE NEWS reports: Swiss gold exports rose 6% month-on-month to 165.2 metric tons in September, the highest since February 2025, Swiss customs data showed. Shipments to the UK jumped to 126.2 tons from 102.1 tons in August, the highest monthly level since at least 2012, as Switzerland remains the world’s largest gold refining and transit hub and the UK hosts the biggest OTC gold market. India saw gold premiums return last week after more than three months as lower prices boosted jewelry demand.
Swiss Gold Exports Rise 6% in September, UK Shipments Hit Record High
AI take
The record flow into the UK points to London's OTC market absorbing metal at a scale not seen in over a decade, a signal that institutional positioning, not just retail demand, is driving the Swiss refining pipeline. India's premium revival is the counterweight: Asian physical demand reactivating on lower prices could compete for the same refined supply. Whether UK-bound shipments stay elevated or India's premium recovery pulls metal eastward is the open question for the physical market's balance.
Generated by AI for reference only.
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