As U.S. gold exports to Hong Kong and China fell 25% in the first four months of the year, London picked up the slack. According to the USGS, U.S. gold exports to London surged more than doubled from January to April, compared to the same period last year. Interestingly, the amount of gold exported to London during this period nearly equaled the total U.S. domestic gold mine supply.
From the data reported in the USGS Gold Mineral Industry Survey’s, U.S. gold exports to the U.K. (London) jumped to 64.3 metric tons (mt) Jan-Apr, versus 25.5 mt during the first four months last year:
Here is the breakdown of U.S. gold exports to London for each month:
Jan = 12.2 mt
Feb = 12.1 mt
Mar = 21.2 mt
Apr = 18.8 mt
Total 64.3 mt
As I have mentioned, a lot London’s gold is exported to China and Switzerland. And then, the majority of Switzerland’s gold is exported to Hong Kong and China. For example, according to the statistics on GoldChartsrus, in March, the U.K. exported 16 mt of gold to China and 32 mt of gold to Switzerland. In the very same month, Switzerland exported 80 mt of gold to Hong Kong and China. So, most of the west’s gold still ends up in Hong Kong and China.
Here are the top three countries that received gold exports from the United States Jan-Apr 2017 versus 2018:
From Jan-Apr 2017, the United Kingdom received 25.5 mt of gold from the U.S., compared to 69 mt shipped to Hong Kong and China and 48.3 mt sent to Switzerland. Now during the same period this year, U.S. gold exports to the U.K. jumped to 64.3 mt while Hong Kong and China fell to 50.5 mt and Switzerland declined to 40 mt:
…click on the above link to read the rest of the article…
