Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Swiss gold trading takes spotlight in trade talks with US
Mint New Delhi
|August 05, 2025
Billions of dollars worth of gold is constantly flowing into and out of the world's biggest gold refining hub
The trade imbalances that prompted US President Donald Trump to slap hefty levies on Swiss imports have been driven by a small industry at the center of the world's gold market.
The country is the world's biggest gold-refining hub, thanks to a longstanding reputation for quality and discretion. Billions of dollars worth of gold is constantly flowing into and out of the nation, from mines in South America and Africa to banks in London and New York.
Flows of the precious metal cause big swings in the country's trade balances, even if the Swiss refiners capture only a small portion of the value of the commerce.
This story is from the August 05, 2025 edition of Mint New Delhi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint New Delhi
Mint New Delhi
War on spam call menace stalls on who takes blame
Blocking an unknown number or reporting a suspicious text message may feel like a small win against the spam menace.
3 mins
September 24, 2025
Mint New Delhi
Pricey variants after GST cuts? Govt keeps watch for mischief
The Centre is going all out to stop companies from sidestepping the cuts in goods and services tax rates.
3 mins
September 24, 2025
Mint New Delhi
Will GST rate cuts revive key FMCG growth metric?
GST rate cuts have made household items from soaps and shampoos to snacks cheaper. Along with festive buying and an above-normal monsoon, packaged consumer goods companies anticipate lower prices to boost volume growth, especially in rural areas. Mint explains:
2 mins
September 24, 2025
Mint New Delhi
How Nvidia is backstopping America's AI boom
Nvidia’s move to invest $100 billion into Open AI to help finance a historic data center build-out has helped reset market expectations about the startup’s shaky finances. It's a familiar play by the chip giant.
3 mins
September 24, 2025
Mint New Delhi
Forced exit at Tata Sons bares split at Tata Trusts
Vijay Singh’s ouster from Tata Sons follows some trustees feeling lack of transparency
4 mins
September 24, 2025
Mint New Delhi
DO TAX CUTS REALLY BOOST THE ECONOMY?
Tax cuts are to fiscal policy what rate cuts are to monetary policy-both are tools to stimulate economic growth. This has been a bumper year for tax cuts: in February the Union Budget raised the exemption limit for income tax, and in August GST rates were cut across a swathe of goods and services.
3 mins
September 24, 2025
Mint New Delhi
Bear mark over IT signals more pain for investors
MUMBAI Investors in Indian IT companies saw their combined wealth plunge by over ₹trillion over the last two days. The pain may not be over yet.
2 mins
September 24, 2025
Mint New Delhi
Motorbike firms prep for quieter, electric future
Makers of electric motorcycles worldwide are touting stealth and instant power to convert those who swear by the rumble of a V-twin or the thump of a single-cylinder internal combustion engine.
3 mins
September 24, 2025
Mint New Delhi
IT's middle order takes US hit; big cos hold ground
Shares of smaller IT companies reeled on Monday despite their reassurances about the H-1B visa impact, while their large-cap peers that remain tight-lipped closed with smaller losses, signalling market belief that the latter may navigate the crisis better.
3 mins
September 23, 2025
Mint New Delhi
Startups, VCs rush to digitize India's mutual fund sellers
Startups are rushing to build technology for India's swelling army of mutual fund distributors (MFDs), a segment that is rising alongside the nation's roaring asset management industry.
2 mins
September 23, 2025
Listen
Translate
Change font size