LONDON - Swiss exports of gold to India plunged in May, Swiss customs data showed, as the world's second-biggest bullion consumer grappled with a surge in coronavirus infections.
Shipments from Switzerland to China, the biggest gold market, remained strong for a second month, the data showed.
Switzerland is the world's largest gold refining centre and transit hub. Its numbers provide an insight into global market trends.
Demand for gold in India and China plunged when the pandemic began last year, closing jewellery outlets and hurting incomes.
The Indian market began to recover quickly, but Chinese imports of gold rebounded only in recent months.
Following are numbers for May and comparisons.
SWISS TRADE DATA (KG)
SHIPMENTS TO KEY MARKETS (KG)
To China To Hong Kong To India
Apr-21 32,750 3,800 2,037
Mar-21 40,245 10,082 56,549
Apr-20 0 42 503
* Source: Swiss customs. Data subject to revision by source.
(Reporting by Peter Hobson Editing by Bernadette Baum) ((Peter.Hobson@thomsonreuters.com; +44 207 542 0083;))