Gold News: China Buying Significant Amounts From Switzerland

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Written by Mike Hammer

As you know, we follow China’s gold market fairly closely because China is one of the biggest drivers in gold prices.  The usual picture is that the majority of gold flowing into China comes through Hong Kong.  That’s changed a bit in recent years, with Shanghai becoming more of a factor.

But mentally, it’s similar as Shanghai is, after all, “really close” to China. Reports out of Hong Kong reveal that China also buys significant amounts of gold from Switzerland.  And, they’re ramping up gold imports from Switzerland – up 38% last year to 431 tonnes of gold.  That’s quite a lot in anyone’s book! Clearly, China is willing to buy gold from wherever they can get it.

You can read more about it in today’s featured article.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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  • Will this brings us back to the gold standard to stop the huge amount of debts and brings back all reasons???