Net exports of gold from the United States in January 2019 doubled. At the end of 2018, total exports of American gold to other countries amounted to 474 tons.
According to the US Geological Survey (USGS), in January of this year, the States sent 31.4 tons of yellow precious metal to other countries. This volume was the largest since October 2018. Compared with December 2018, exports grew by + 10%, but compared with January 2018 there was a decrease of-13%.
From the USGS data it also follows that the import of the yellow precious metal in January amounted to 14.1 tons, which corresponds to a decrease of-32% compared with December 2018 and a decline of-19% compared with January 2018
Knowing the import-export data, it turns out that the net export of gold from the United States in January 2019 amounted to 17.3 tons. Compared with December 2018, this figure grew by more than 2 times (128%).
The US Geological Survey also published data for all of 2018. It begins from the 474 tons of yellow precious metal which were exported and in addition the 213 tons that were imported. It turns out that net exports last year amounted to 261 tons. At the same time, it should be said that 63 % of exported gold comes from refined precious metal, and the rest is raw materials and ore. But the import is already purified precious metal low sample. It accounts for 62%. The remaining 38% is pure gold, including in the form of investment coins from Canada.
Exports of gold from the United States begins to grow when demand for ETF-fund shares, which are secured by physical gold, falls. This precious metal is mostly stored in the USA and the UK. At the same time, mainly world gold is processed in Switzerland. Typically, 400-ounce (12.5 kg) gold bullions are melted into 1-kilogram bars, which are in high demand in Asian countries.