Swiss gold exports experienced a significant downturn in October, particularly affecting key markets like China and India. This decline follows a period of soaring gold prices, which reached record highs, leading to a noticeable slowdown in demand. According to Commerzbank's commodity analyst Carsten Fritsch, this trend highlights the shifting dynamics within the precious metals market.
The drop in exports could have implications for currency pairs linked to precious metals, particularly the USD/CHF and EUR/CHF. As traders react to changing demand and price volatility, these exchange rates may experience increased fluctuations. The broader impact on the forex market will depend on how quickly demand rebounds and whether gold prices stabilize in the coming months.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 12:38
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.