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U.S. imports record amount of gold from Switzerland as virus upends trade

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Yahoo-Reuters/Peter Hobson

photo of stacks of gold at Bank of England gold room“Swiss exports of gold to the United States leapt to 111.7 tonnes in April – by far the biggest monthly total on record – while shipments to other destinations dwindled, customs data showed on Tuesday.”

USAGOLD note:  Typically the United States imports about one tonne of gold from Switzerland per month, according to Reuters.  We would associate the larger shipment with anticipated demand for gold to fulfill futures’ delivery demand via COMEX.

Repost from 5-26-2020