Swiss Gold exports reflect weak demand for Gold in Asia – Commerzbank

FXStreet Insights Team FXStreet

The Swiss Federal Customs Authority published data on Gold exports in October this week, Commerzbank’s commodity analyst Carsten Fritsch notes.

Gold demand in Western countries is picking up

“These revealed very different trends. Deliveries to China were significantly weaker at just 5 tons. Virtually no Gold was exported to Hong Kong. On the other hand, there was an increase in exports to India. However, the level in October was still comparatively low at 11.7 tons. Slightly more Gold was delivered to the US than in the previous month.”

“However, the inflows of 30 tons into the US-listed Gold ETFs reported by the World Gold Council (WGC) in October would have suggested a higher figure than the reported 9.4 tons. Very surprising is the strong increase in Swiss Gold exports to the UK to 31.9 tons, although the Gold ETFs listed there recorded outflows in October according to the WGC.”

“All in all, the picture of subdued Gold demand in Asia is confirmed, while Gold demand in Western countries is picking up.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.