Fun State of the Industry Data - Looks like Gold is King Again

[macrowatch]

From Oct Swiss Export Report via Robb's Report:

"In the month of October, exports totaled an eye-popping CHF 2.1 billion (approximately $2.26 billion at current exchange), which is the highest monthly figure in seven years. For context, that’s an increase of 12.5 percent year-on-year, as well as a 4.8 percent jump from October 2019.

According to the FHS, the increase was driven mainly by demand for high-end timepieces crafted from precious metals. Exports in this category—that is, watches priced over $3,200—saw double-digit growth both in value and the number of items exported."

"The figures also showed that the burgeoning US market snapped up the majority of the timepieces. The country claimed 14.5 percent of Swiss exports for October, which equates to more than $330 million worth of watches. The Chinese market experienced growth, too, nabbing a 12.6 percent share of the exports or roughly $289 million worth of timepieces."

So maybe all those steel subs are nary to be seen since they are now gold subs!