Higher supplies to the UK lift Swiss October gold exports m/m

LONDON, Nov 19 (Reuters) - Gold exports from Switzerland rose in October compared to September due to higher supplies to Britain, but were down from a year ago as high gold prices kept deliveries to China and Hong Kong subdued, Swiss customs data showed on Tuesday. Supplies from Switzerland, the world's biggest bullion refining and transit hub, to Britain in October reached the highest level since June 2021, according to the data. London is the world's largest centre for over-the-counter (OTC) trading of gold. This year's 27% gold price rally, which took spot prices XAU= to a record high of $2,790.15 per troy ounce on Oct. 31, has been affecting physical demand in China, the world's top consumer of the metal. GOL/AS However, gold exports from Switzerland to India, the world's second-largest gold consumer and a major importer, rose in October from September amid festival purchases. Swiss total gold exports and supplies to key markets* (in kgs): October 2024 September 2024 October 2023 Total trade: 86,799 81,173 151,343 - China 4,999 12,754 22,761 - Emirates, Arab 9,298 4,293 20,565 - France 1,437 5,328 5,295 - Hong Kong 17 6,638 7,347 - India 11,716 5,790 49,417 - Italy 2,956 3,281 4,409 - Saudi Arabia 3,461 2,500 9,836 - Thailand 750 2,258 6,050 - Turkey 4,066 6,102 8,042 - United Kingdom 31,945 20,086 3,197 - USA 9,380 6,368 1,230 * Source: Swiss customs. Data subject to revision. (Reporting by Polina Devitt. Editing by Mark Potter) (([email protected]; Reuters Messaging: [email protected]))