Higher supplies to the UK lift Swiss October gold exports
Supplies from Switzerland to Britain in October reached the highest level since June 2021.
Gold for December delivery declined $15.00, or just under 1% to $1,815.10 an ounce on the Comex division of the New York Mercantile Exchange in late afternoon trade on Wednesday after the EU said it would soon present options on how it might issue bonds jointly and that Greece would remain in the euro zone.
Gold is heading for its second weekly fall, its longest since early July although on Monday it struck an all-time high of 1,373.92/oz when measured in euros. December silver, down more than 1.5% on Wednesday managed to stay above the psychologically important $40/oz level.
Reuters quotes Anne-Laure Tremblay, an analyst at BNP Paribas: “It is useful to follow gold both in USD and in EUR. As this current consolidation phase shows, however, gold does not always reflect the level of risk aversion/appetite.”
