Gold Exports From U.S. To China and India Surge In 2017
Thursday, May 11, 2017 at 09:16PM
Gold Prices


Gold Exports From U.S. – Something Big Is Happening

by SRSRoccoReport.com

Most Americans didn’t realize it, but something BIG changed in the U.S. gold market in the beginning of 2017.  While precious metals sentiment and buying in the U.S. has dropped off considerably in the first quarter of 2017, the East continues to acquire gold, HAND OVER FIST.

How much gold?  Well, let’s just say…. U.S. gold exports have nearly doubled during JAN-FEB 2017 versus the same period last yearTotal U.S. gold exports JAN-FEB 2017 surged to 101 metric tons (mt), compared to 56.5 mt last year.  This is quite interesting because total U.S. gold mine supply plus gold imports for JAN-FEB 2017 only equaled 80 mt.  Thus, the U.S. suffered a 21 mt gold supply deficit in the first two months of the year.  Which means, someone had to liquidate an additional 21 mt of gold from their vaults to export to the East….. where they still understand the vital role of gold as REAL MONEY.

And where did the majority of U.S. gold exports head to?  You got it….. Hong Kong-China & India.

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No rate hikes in the near future should have sent gold higher, but it didnt, gold dropped....

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