-- Posted Friday, 17 May 2013 | | Disqus
There seems to be a great deal of the yellow metal heading out of the United States and into certain foreign countries lately. According to the USGS, the United States exported 129 metric tonnes of gold Jan-Feb, 2013. At this rate, total U.S. gold exports could reach 700-800 metric tonnes this year. With the recent take-down in the price of gold in April & May, I would imagine the United States is more than likely going to reach that figure.
If we look at the chart below we can see just who received all this gold:
The figures in the chart represent gold in refined bullion, Dore’ & precipitates. The U.K. received 7.4 metric tonnes in Jan and 11.5 more in Feb for a total of 18.9 metric tonnes. Hong Kong came in second by importing a total of 40 metric tonnes (Jan-Feb) from the United States, while Switzerland received 43.5 metric tonnes.
In total, the United States exported 129 metric tonnes of gold (refined bullion, Dore’ & precipitates) in the first two months of 2013. The U.K, Hong Kong and Switzerland accounted for 102.4 metric tonnes or nearly 80% of all U.S. Gold exports during these two months.
Furthermore, the U.S. only imported 50 metric tonnes of gold during this time period, while domestic gold production supplied an additional 35 more. With a total of 85 metric tonnes of gold imports and domestic mine supply, the United States suffered a net deficit of 44 metric tonnes in the first two months of the year.
As I mentioned, if the rumors are true that supplies of gold are in short supply, I would imagine the United States will be exported a record amount of gold during the remainder of 2013 … that is, if there is the available gold to export.
You will find future updates on the U.S. Gold Export data at the SRSrocco Report.
-- Posted Friday, 17 May 2013 | Digg This Article
| Source: GoldSeek.com
