Most Americans didn’t realize it, but something BIG changed in the U. S. gold market in the beginning of 2017. While precious metals sentiment and buying in the U. S. has dropped off considerably in the first quarter of 2017, the East continues to acquire gold, HAND OVER FIST.
How much gold? Well, let’s just say…. U. S. gold exports have nearly doubled during JAN-FEB 2017 versus the same period last year.
Total U. S. gold exports JAN-FEB 2017 surged to 101 metric tons (mt), compared to 56.5 mt last year. This is quite interesting because total U. S. gold mine supply plus gold imports for JAN-FEB 2017 only equaled 80 mt. Thus, the U. S. suffered a 21 mt gold supply deficit in the first two months of the year. Which means, someone had to liquidate an additional 21 mt of gold from their vaults to export to the East….. where they still understand the vital role of gold as REAL MONEY.
This post was published at SRSrocco Report on MAY 10, 2017.
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