The Phaserl


U.S. Gold EXPORTS Jump 70% In September

by Steven St. Angelo, SRS Rocco:

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:

As we can see, total gold exports for each month were less than 30 mt.  However, when the price of gold fell to a new low, gold exports increased to 50 mt.  The majority of gold exports in September were shipped to Switzerland, the U.K. and Hong Kong:

Total U.S. Gold Exports Sept 2014

China also received a direct shipment of 3.3 mt of gold while Thailand imported 3 mt, Italy 2.6 mt, Singapore 2 mt, and the UAE 1.5 mt.  What is interesting here is the 2.6 mt of U.S. gold exported to Italy.  Italy has imported gold scrap from the U.S., but not much in the way of gold bullion.

Matter-a-fact, I went back and looked at the past ten years of USGS Gold Yearbooks and only found one entry listing U.S. gold bullion exports to Italy in 2009 at a paltry 21 kilograms, which is 653 troy ounces.  Compare that to the 2.6 mt or 83,590 troy ounces of gold exported to Italy in September.

U.S. gold exports for the first nine months of 2014 are down compared to the same period last year.  From Q1-Q3 2013, total U.S. gold exports were 573 mt compared to the 370 mt in the first three quarters of 2014.  However, the price of gold fell to a new low in November, thus gold exports from the U.S. may continue to be strong for the remainder of the year.

The Delay In Releasing THE U.S. GOLD MARKET REPORT

I mentioned over a month ago that I had planned to publish my first paid report, THE U.S. GOLD MARKET REPORT.  The report has 25 charts-graphs and is 38 pages long.  I had my web designer working on setting up the new PAID REPORTS PAGE and just when I it was about to go live with it, I found a glaring error in one of the major aspects of the report.

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