2 main excerpts that sum it up: "Around 85 tons of gold GCJ4 were exported to Hong Kong in January, accounting for almost half of Switzerland's total gold exports, said analysts at Commerzbank. "The gold is likely to have been shipped on to China, which points to continuing high gold demand there," they said." "By far the largest quantity of gold (119 tons) was imported from Great Britain part of this total is likely to have come from sold [exchange-traded fund] holdings," they said. "This underpins the gold flow from west to east that has been underway for months now." http://blogs.marketwatch.com/thetel...ent-most-of-its-january-gold-exports-to-asia/
