Swiss gold exports at highest since 2016 on U.K. demand

Timor Invest

BNNBloomberg/Elena Mazneva/9-21-2019

“Bullion deliveries to London held at a seven-year high last month driven by a surge in investors seeking haven assets.”

USAGOLD note:  Given the destination of Swiss bullion – exchange traded furds, according to this Bloomberg report – British funds and institutions appear to be stocking up on gold in advance of Brexit.  “The City” is hedging its bets. Year to date, gold is up 20.6% in British pounds.

Chart courtesy of TradingView.com

Source: USA gold

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