U.S. Exports 128 Metric Tons Of Gold Jan & Feb 2014… Supply Deficit Increases
If we look at the chart below, we can see where the United States exported the majority of its gold.
In the first two months of the year, Hong Kong imported 65 metric tons (mt) of gold, Switzerland received 40 mt, followed by Australia at 6.2 mt, India 5.7 mt, United Arab Emirates 3.2 mt, Thailand 3 mt, Singapore 1.2 mt and the United Kingdom…. a paltry 1 mt.
Hong Kong and Switzerland imported 105 mt or 82% of the total 128 mt exported during January and February. If we assume that the majority of gold heading to Switzerland is being refined and then shipped off to Hong Kong and the East… the overwhelming majority of U.S. gold exports are heading to Asia, India and the Middle East.