LONDON—Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia’s invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion.
Switzerland’s exports to Britain, which like the United States is a centre for gold investment and trading, also rose, while shipments of gold to China and India, the biggest consumer markets, fell sharply.
Switzerland is the world’s biggest refining and transit centre for gold, an asset typically seen as a safe place to store wealth in times of economic and political turmoil.
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