U.S. Gold Bullion Exports To Hong Kong Surge, 82% Of Total Shipments

Jon Geopolitics, Gold, Market Commentary, Precious Metals

U. S. gold bullion exports to Asia started off with a bang in 2017, as the majority of the total shipped in January went to Hong Kong. Not only did the U. S. export most of its gold bullion to Hong Kong, it was the highest monthly amount in quite some time.
Looking back at the data for the past two years, Hong Kong’s highest monthly amount of gold bullion imported from the United States was less than half of what was shipped in January. According to the USGS, the U. S. exported 31.6 metric tons (mt) of gold bullion to Hong Kong, 82% of the total 38.1 mt shipped in January:
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The four other countries that received the remaining lion’s share was, China (2 mt), India (1.6 mt), Singapore (1 mt) and Switzerland (1 mt). If we assume that most of the gold bullion exported to Hong Kong made its way into China, then if we add the other 2 mt that China received, the total gold bullion shipped to China was more like 33.6 mt.

This post was published at SRSrocco Report on APRIL 10, 2017.