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The World Gold Council's report already announced that the demand for physical gold had risen further in the second quarter of this year, bringing it to the highest level ever.
Yesterday it was reported that Britain's gold vaults are rapidly becoming emptier, probably due to strong demand from China and India. This is what the Australian bank Macquarie wrote last Monday in a report on British gold exports.
According to Macquarie, British gold exports to Switzerland in the first half of this year amounted to 797 tonnes, up from 92 tonnes in the whole of 2012. This is an increase of almost ninefold. Macquarie believes that in Switzerland, most of Britain's gold bars are processed into smaller bars and coins and then resold in Asia, particularly China and India.
Source: Z24
