Swiss gold exports to U.K. hit 6-year high on surge into ETFs

Section:

By Rupert Rowling
Bloomberg News
Tuesday, August 20, 2019

Swiss gold exports to the United Kingdom rose to the highest in six years, driven by a surge in demand for exchange-traded funds.

Switzerland shipped 90.7 tons of bullion to the U.K. in July, the most since September 2012, according to data on the website of Swiss Federal Customs Administration. That compares with just 7.4 tons in June.

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Glint Completes L5 Million Private Placement
and Welcomes Sprott as Strategic Investor

Company Announcement
Thursday, June 13, 2019

Glint Pay Inc. (glintpay.com), the first-mover company that enables physical gold to make instant payments using a debit Mastercard, today announced the completion of a private placement of L5 Million in London-based parent Glint Pay Ltd. The financing was led by Sprott, an alternative asset manager and a global leader in precious metal and real asset investments with approximately $8 billion in assets under management.

Founded in the United Kingdom in 2016, Glint established the first app-based account in February 2018 giving clients in Europe a low-cost way to buy, sell, and save physically allocated gold and for the first time instantly spend it via the Glint Mastercard anywhere Mastercard is accepted. Glint Pay then added multiple currency wallets, including U.S. dollars, British pounds, and euros in July 2018. The company is working on its launch into the United States. ...

... For the remainder of the announcement:

https://glintpay.com/en_us/glint-en_us/glint-completes-5-million-private...



Gold is heading to London because the city is a global center for precious metal storage and boasts a vast network of vaults within the M25 motorway that surrounds the metropolitan area. Rising gold prices are driving demand for investment products and the bullion that underlies those funds. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-08-20/swiss-gold-exports-to...

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