U.S. Gold Exports Jump 70% In September

Jon Gold, Market Commentary, Precious Metals

According to the USGS most recent data, total U. S. gold exports increased significantly in September. Not only did U. S. gold exports surge in September, they were 70% higher than the previous month. This was probably due to increased demand as the price of gold declined $80 during the month.
U. S. exports started off very strong in January, reaching 80 mt (metric tons) with the majority heading to Hong Kong. However, gold exports fell to 47 metric in February and dropped even further in March at 30 mt. If we look at the chart below, U. S. gold exports continue to remain weak from April to August until the spike up in September:

This post was published at SRSrocco Report on December 17, 2014.