Switzerland's gold exports rise 30% as investors seek safe haven amid global uncertainty

Swiss gold exports rebounded strongly in March, rising 30% month‑on‑month as shipments to the UK climbed to 57.6 tonnes and exports to China increased 18%, while deliveries to India fell to 3.1 tonnes. The surge underscores the sensitivity of bullion trade flows to geopolitical and policy developments after last year’s U.S. tariff shock. The Swiss Bankers Association says gold’s role as a strategic store of value is growing amid global fragmentation, even as the metal remains highly volatile — peaking near USD 5,600/oz on Jan. 28 before a sharp correction. The report highlights continued demand from private investors, central banks and large buyers (including stablecoins), and warns that political signals or potential export restrictions can trigger outsized short‑term moves. Overall, the data and SBA commentary point to stronger structural importance for gold in reserves and portfolios, a development with bullish implications for medium‑term demand despite near‑term price swings.