LONDON – Swiss gold exports fell to their lowest in 15 months in September due to lower deliveries to India and Turkey, customs data showed on Thursday.
Switzerland is the world's biggest bullion refining and transit hub, while China and India are the largest consumer markets with local demand sensitive to high prices and time of the season.
Demand in India usually strengthens towards the end of the year during the traditional wedding season and major festivals. However, the country's physical market was muted as of last week due to higher local prices.
Gold prices <XAU=> in London were near 2-1/2 month highs on Thursday amid fears of an escalation in the Israel-Hamas conflict.