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Noticias de trading
23 Apr 2015
Key developments in the Gold market – BBH
FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, highlights the notable developments in Gold, and further shares the percentage of Gold holdings in a country’s reserves.
Key Quotes
“It appears that the UK exported gold to Switzerland where it was refined and then shipped to China and India. Russia continues to accumulate gold even as its hard currency reserves fall."
“According to official Swiss data, its shipments of gold to China almost doubled in March from February to 46.4 metric tonnes. Swiss exports of gold to India doubled to a four month high of 72.5 mln metric tonnes. On the other hand, Swiss gold exports to Hong Kong fell by about a quarter to 30 mln metric tonnes in March.”
“Overall Swiss exports of gold, which are not sensitive to the strength of the Swiss franc, rose 65% in March to 223.3 metric tonnes. This is the highest in at least two years. Imports rose 51% to 281.6 metric tonnes, which is a new high since the time series began. Imports from the UK jumped six-fold to 97.2 metric tonnes.”
“Russia's gold accumulation has more than doubled its holdings since the middle of 2009 and tripled them since 2005.”
“Gold accounts for almost 15% of Russia's reserves.”
“Official gold holdings account for nearly three-quarters of US reserves. German official gold holdings are nearly 69% of its reserves. Italian and French holdings are proportionately a little smaller than Germany's.”
“China's gold holdings may be about 1% of its reserves, which says more about its large reserves than it does about its gold.”
“India holds about 558 metrics tonnes of monetary gold. It accounts for about 7% of its reserves.”
Key Quotes
“It appears that the UK exported gold to Switzerland where it was refined and then shipped to China and India. Russia continues to accumulate gold even as its hard currency reserves fall."
“According to official Swiss data, its shipments of gold to China almost doubled in March from February to 46.4 metric tonnes. Swiss exports of gold to India doubled to a four month high of 72.5 mln metric tonnes. On the other hand, Swiss gold exports to Hong Kong fell by about a quarter to 30 mln metric tonnes in March.”
“Overall Swiss exports of gold, which are not sensitive to the strength of the Swiss franc, rose 65% in March to 223.3 metric tonnes. This is the highest in at least two years. Imports rose 51% to 281.6 metric tonnes, which is a new high since the time series began. Imports from the UK jumped six-fold to 97.2 metric tonnes.”
“Russia's gold accumulation has more than doubled its holdings since the middle of 2009 and tripled them since 2005.”
“Gold accounts for almost 15% of Russia's reserves.”
“Official gold holdings account for nearly three-quarters of US reserves. German official gold holdings are nearly 69% of its reserves. Italian and French holdings are proportionately a little smaller than Germany's.”
“China's gold holdings may be about 1% of its reserves, which says more about its large reserves than it does about its gold.”
“India holds about 558 metrics tonnes of monetary gold. It accounts for about 7% of its reserves.”