Gold exports from Switzerland totalled 141.50 mt in September, down 17.7% from 171.90 mt the previous month, Swiss federal customs data showed Tuesday.
Compared with September 2014 imports fell 17.2% from 171 mt.
The decline was largely due to poor exports to India, which totalled 23 mt in September, down 65.7% from 66.9 mt the previous month.
A recovery in the gold price in September from 6.5-year lows in the summer, and poor local demand ahead of the festival season in India, has seen very lackluster demand in the country recently.
The differential paid to the London market by dealers locally in India has been in a discount since the end of August, heard as high as $10/oz to the London price this week.
Exports to Hong Kong in September rose 64.9% to 59.80 mt, the largest monthly export into the country for 18 months.
Exports to China were also 27.6% higher at 21.7 mt.
China's state bank continues to increase its gold reserves, with 15 mt added to official reserves by the People's Bank of China in September, following 16.2 mt added in August.
The London Bullion Market Association Gold Price settled at $1,173.70/oz Tuesday morning, down $1.70/oz from the previous session.
