60% of Swiss gold exports to China this year going direct rather than via Hong Kong

A follow-up article to the one I published here recently on Switzerland nowadays shipping more gold to mainland China than to Hong Kong has been published on sharpspixley.com.  The original article related to Swiss gold export figures for January showing the highly significant fact that the country shipped 42.1 tonnes of gold to mainland China and only 24.5 tonnes to Hong Kong.  Now Switzerland has released its February gold export statistics showing that again more gold went directly to mainland China than to Hong Kong (26.0 tonnes to 19.4 tonnes)  This works out That 60% of Swiss gold exports in the first two months of the year went directly into mainland China, bypassing Hong Kong altogether.

Go back around three years and nearly all China’s imported gold went to Hong Kong first and then to the Chinese mainland, so Hong Kong gold exports to China were taken by the media and major gold analysts as representative of total Chines gold imports.  This is obviously no longer the case with perhaps more than half Chinese gold imports not touching Hong Kong at all – yet some media still publish the figures as though a sharp year on year fall in Hong Kong gold exports to the mainland indicates a similarly sharp fall in total Chinese gold imports.  As the Swiss figures show this is no longer the case.

To read the Sharps Pixley article click on China taking in more Swiss gold than Hong Kong for second successive month


2 thoughts on “60% of Swiss gold exports to China this year going direct rather than via Hong Kong

  1. George L. March 26, 2016 / 8:17 am

    Dear Sir,
    Why do you Report and specify only exports from Switzerland?OK, Switzerland has a high marketshare in processing Gold for a lot of customers.But you should try to get to a complete picture.Why do I say this?
    Brot für Brüder, resp. “Bread for brethren” is just now campaigning against those wild and
    uncontrolled miners in SA and South America, more or less saying that Swiss Gold is dirty Gold.Rememner the Jewish attacks against Switzerlqnd?
    I tried to explain to this Church Organisation that Gold processng in Switzerland ist a decent Business and that the Gold companies, where I own Shares are not only painstakingly operating, but that some of them do a lot of good things to the communities.
    As very bad example the Yamacocha Mine ist mentioned.I was asking these People do directly address the management of this mine and not Switzerland.

    Perhaps ths could be an idea for you to comment the Gold Business from another side.Anyway, I hate as a Swiss Citizen to be drawn in some dirty Business, where the culprits have another nationality.


    • lawrieongold March 29, 2016 / 6:00 pm

      We report on Swiss exports as the nation publishes its gold import and export statistics openly – as does Hong Kong and the UK. Australia also reports but a long time in arrears. It is difficult to find specific data on gold imports and exports from most producing nations and even China itself does not report official gold import figures. I would agree with your view that the vast majority of gold mining companies nowadays are very socially and politically aware and operate with the utmost care for safety and the local communities – and the Swiss gold refiners are also highly respectable organisations. the days of massive exploitation of local people by the gold miners are long behind us


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