Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold Gains While Stocks Fall Markedly
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 18 2018
By: Ira Epstein

The Incredibly Bullish Set-Up for Gold
By: Michael Ballanger

End of the World – Part One
By: Gary Christenson

The Weighted Average Cost Of Capital
By: Adam Taggart

Gold Would Not Enjoy That FOMC Is Going More Restrictive
By: Arkadiusz Sieron

Are You An Investor Being Set Up For The Slaughter?
By: Avi Gilburt

How Do You Sell Your Vaulted Gold When the Internet Goes Down?
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Edge Lower Again
By: Chris Mullen, Gold Seeker Report

GoldSeek Radio Nugget: President Niko Cacos, CEO, and Director of Blue Sky Uranium Corp. and Chris Waltzek
By: radio.GoldSeek.com

 
Search

GoldSeek Web

 
U.S. Gold Exports Surge In November


 -- Published: Sunday, 8 February 2015 | Print  | Disqus 

By Steve St. Angelo, SRSrocco Report

After the price of gold fell to a new low in November, total U.S. gold exports jumped 40% compared to the previous month.  When the USGS released their October Gold Mineral Industry Survey, total gold exports that month were the second highest of the year.

However, the most recent data shows U.S. gold exports shot up significantly to 71 metric tons in November, compared to 51 mt in October.   If we look at the chart below, we can see that U.S. gold exports increased considerably in September after a lull in demand during the summer.

Total US Gold Exports JUN-NOV 2014

Not only was November’s 71 mt the second highest month for U.S. gold exports (Jan was 80.7 mt) in the year, Switzerland received nearly half of the total amount.  In just one month, U.S. gold exports to Switzerland jumped from 17.6 mt in October to a staggering 32.9 mt in November.

Total U.S. Gold Exports NOV 2014

Furthermore, gold exports to Hong Kong increased from 12.9 mt in October to 14.8 mt in November, while India’s grew by 1.3 mt to 7.4 mt.  As it turns out, November is another deficit month for the U.S. gold market.  Here are the figures:

U.S. Gold Market November 2014

Mine Supply = 17 mt

Imports = 20 mt

Est. Scrap = 8 mt

TOTAL SUPPLY = 45 mt

Exports = 71 mt

Consumption = 10 mt

TOTAL DEMAND = 81 mt

DEFICIT NOV. = 36 mt

As we can see, the United States continues to send GOLD (Real Money) to Switzerland, Asia and India while it creates more debt and derivatives.  This is another stupid practice for a country that leads the world in FINANCIAL INSANITY.

Lastly, the future value of the precious metals will skyrocket as the value of most paper assets implode.  Why?  This will be due to the peak of unconventional oil sources and the continued falling EROI.  I recommend reading my recent article on this subject if you have not:

DECLINE OF US EMPIRE HEADER

Click on the image on you can get access to the article by the following link:  DECLINE OF U.S. EMPIRE:  Due To The Worst Oil Productivity In The World

Please check back for new articles and updates at the SRSrocco Report.  You can also follow us at Twitter below:

SRSroccoReport Twitter Button


| Digg This Article
 -- Published: Sunday, 8 February 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.