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Gold moves more and more from the West to the East. Usually it comes from the UK and is transported to Switzerland. There it is melted down into smaller sizes that are popular in Asia and mainly transported to Hong Kong, from there, mostly to China. This is confirmed by the Federal Customs Administration of Switzerland.
After a brief correction the gold price is on its way back to the top. The main reason is the weak economic data from China. Investors speculate that the Chinese central bank will provide more liquidity. This prospect is likely to drive up the quotation of the precious metal. The Swiss precious metal imports amounted to CHF 7.2 billion. 60.2 percent of the precious metal has been imported from the UK.
How big is the Chinese appetite for gold?
The Hong Kong-based company Malca-Amit Global has opened a warehouse in the Free Trade Zone in Shanghai with a capacity of 2000 tons in November, which is twice the demand that China has achieved in 2013. In addition the U.S. company Brink's which is specialized in security services and valuables transport builds a fifth gold deposit in Singapore. It is scheduled to open in March. The company also increased the capacities in Hong Kong and China.
After a brief correction the gold price is on its way back to the top. The main reason is the weak economic data from China. Investors speculate that the Chinese central bank will provide more liquidity. This prospect is likely to drive up the quotation of the precious metal. The Swiss precious metal imports amounted to CHF 7.2 billion. 60.2 percent of the precious metal has been imported from the UK.
How big is the Chinese appetite for gold?
The Hong Kong-based company Malca-Amit Global has opened a warehouse in the Free Trade Zone in Shanghai with a capacity of 2000 tons in November, which is twice the demand that China has achieved in 2013. In addition the U.S. company Brink's which is specialized in security services and valuables transport builds a fifth gold deposit in Singapore. It is scheduled to open in March. The company also increased the capacities in Hong Kong and China.
