Swiss gold exports at highest since 2016 on UK demand

Swiss gold exports at highest since 2016 on UK demand

Image: Generation Grundeinkommen 2013

By Elena Mazneva, Bloomberg News

09/20/2019

 

Swiss gold exports jumped to the highest since 2016 in August as increased demand from the U.K. continued to offset recent declines in flows to Asia, customs data show. Bullion deliveries to London held at a seven-year high last month driven by a surge in investors seeking haven assets.

Growth worries, coupled with the enduring risk of a no-deal Brexit, fueled demand for exchange-traded funds backed by gold.

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