According to the results of July 2016, Switzerland supplied 192 tons of gold to other countries. The main mass of this precious metal was sent to the UK. At the same time the largest supplier of gold was the United Arab Emirates (UAE).
According to the foreign trade statistics, the value of exports of gold from Switzerland in July reached a record level since March 2015, and namely – 192 tons of gold in the amount of CHF 7.94 billion (EUR 7.29 billion) were dispatched abroad. Compared with the same period of 2015 the value of exports increased by 40.5% this year, in comparison with June of this year the growth amounted to 16.5%. As in the past four months, in July this year, the biggest buyer of Swiss gold became the UK. Since the beginning of 2016 it has received 343 tons of the yellow precious metal. This is due also to the fact that it is in London there is the largest in the world vault of ETF SPDR Gold Trust, which is now experiencing a large influx of investors due to the instability in the global economy.
But from where Switzerland gets gold for processing, then to send it to the UK? According to the foreign trade statistics, the largest supplier of precious metals in July became the UAE with 38.25 tons in the amount of CHF 1.63 billion. Apparently, the entire precious metal comes from Dubai, which is known throughout the world as the gold trading center. Since the beginning of 2016 of the United Arab Emirates have supplied to Europe 252.57 tons of the yellow precious metal.