Switzerland to publish detailed gold import and export data monthly

Section:

Swiss Gold Sector Embraces Transparency, Up to a Point

By Francesca Freeman
The Wall Street Journal
Friday, December 13, 2013

The window into the Swiss gold sector is about to become a little less fogged up.

Starting from Jan. 1, data on Switzerland's gold imports and exports will be released monthly, broken down by country. That's quite a departure from the current system, where Swiss gold trade data is released quarterly, with no information on where it's coming from or going to.

Switzerland is a major trading and refining hub for gold, and the data should shed new light on regional demand for the precious metal. ...

"This is significant not so much for knowing the size of the trade, but in the level of detail it will provide about where gold is going to from Switzerland and where it's coming from," said Matthew Turner, a precious metals analyst at Macquarie.

Of particular interest is how much gold is heading to China -- now the world's top gold consumer, said Mr. Turner. China doesn't publish data on its gold imports, making it difficult to pinpoint exactly how much of the yellow metal is ending up there. ...

... For the complete story:

http://blogs.wsj.com/moneybeat/2013/12/13/swiss-gold-sector-embraces-tra...



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