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Swiss gold exports to India plunged in May as coronavirus cases surged

    LONDON, June 17 (Reuters) - Swiss exports of gold to India
plunged in May, Swiss customs data showed, as the world's
second-biggest bullion consumer grappled with a surge in
coronavirus infections. 
    Shipments from Switzerland to China, the biggest gold
market, remained strong for a second month, the data showed. 
    
    
    Switzerland is the world's largest gold refining centre and
transit hub. Its numbers provide an insight into global market
trends.
    Demand for gold in India and China plunged when the pandemic
began last year, closing jewellery outlets and hurting incomes. 
    The Indian market began to recover quickly, but Chinese
imports of gold rebounded only in recent months. 
    Following are numbers for May and comparisons. 
    
    SWISS TRADE DATA (KG)         
                EXPORT (kg)
        May-21         82,229
        Apr-21        131,513
        May-20        141,858
 
    SHIPMENTS TO KEY MARKETS (KG)
                To China       To Hong Kong   To India
        Apr-21         32,750          3,800          2,037
        Mar-21         40,245         10,082         56,549
        Apr-20              0             42            503
 
    * Source: Swiss customs. Data subject to revision by source.
    
    

    
 (Reporting by Peter Hobson
Editing by Bernadette Baum)
  
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