London (Reuters) – Gold, which traders have been flying for New York since December as a precaution against the possibility that large American rates reach imports of ingots, is returned to Switzerland, where it comes from, show that official data show.
Swiss customs data showed Thursday that gold imports in the United States’ country reached a thirteen-month summit of 25.5 tonnes metric in March, against 12.1 tonnes in February. Switzerland’s gold exports to the United States fell 32% per month to 103.2 tonnes.
The American warehouses approved by Comex, which are part of the CME group, saw eight consecutive days of gold outings, for the first time in fourteen months, showed daily Comex data, such as the fact that the American future ended after a major dislocation.
Gold, silver and platinum worth more than $ 80 billion was delivered in Comex warehouses during the period of December-March, keeping logistics and Swiss refineries more occupied than usual.
However, the urgency to steal gold and money in New York was removed when Washington excluded the metals of the reciprocal prices of President Donald Trump two weeks ago and that the inverse flow slowly to Switzerland.
Comex gold shares are down 1.5 million Troy ounces, worth 4.8 billion dollars, to 43.6 million ounces (1,357 metric tonnes) since it reached a summit of 45.1 million ounces on April 4.
Part of what is currently delivered American gold boxes returns to Switzerland, the largest hub of refining and transit in the world in the world, said a source in a Swiss refinery.
The exit from the United States will be modest for the moment because gold in the country’s chests continues to serve as a coverage against the greatest uncertainty in progress for part of the market, he added.
During a typical year, the United States consumes approximately 115 tonnes of gold in physical parts and bars, which means that the remaining kilobars in the warehouses recorded by CME are sufficient to last this market segment for almost 12 years, said Ross Norman, an independent analyst.
“A great moment to be in logistics in gold and gold refining,” he added.
(Report by Polina Devitt; edition by Kirsten Donovan)
