The coronavirus epidemic had a significant negative effect on the international supply of yellow precious metals. This conclusion suggests itself from the data on Swiss foreign trade published by the country's customs service. It follows from them that in February of this year, 42.7 tons of gold were exported in the amount of 1.96 billion euros. Compared to January, the decline was -49%.
The largest recipient of Swiss gold was India (9.5 tons). Then come the United Kingdom (9.2 tons) and Cambodia (4.9 tons). Deliveries of yellow precious metals to China compared to the previous month (January) fell by -88% to 2 tons. Neighboring Germany received 2.6 tons of gold, although in January this figure was 7 tons.
Gold imports to Switzerland also declined markedly. In February, 142 tons were imported into the country, totaling 4.1 billion francs, which is -21% less than in January of this year. The largest supplier was Thailand (17.8 tons), followed by the UAE (8.5 tons) and Germany (6.2 tons).
Some countries send low-quality yellow precious metals to Switzerland for further purification from impurities, as Swiss refineries are famous for their high quality refining. Such countries were Chile (18 tons), Argentina (13 tons) and Peru (18 tons).