Commodities Buzz: US Gold Exports Hit 129 Tonnes In First Two Months Of 2013

Gold.........

Gold exports from US are hitting new highs. 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 around 800 metric tonnes this year- a record high. The UK 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 US Gold exports during these two months.The total gold imports in US were just 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.
Source by Commodity Insights