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Title: U.S. Exports Nearly All Gold Mine Supply To Hong Kong
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URL Source: http://www.investmentwatchblog.com/ ... gold-mine-supply-to-hong-kong/
Published: Apr 27, 2018
Author: Staff
Post Date: 2018-04-27 21:45:42 by Horse
Keywords: None
Views: 37
The U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply. According to the USGS recent Gold Mineral Industry Survey, February gold exports to Hong Kong more than doubled compared to the prior month. This was an interesting increase in gold demand from Hong Kong as the market price increased slightly month over month. Not only did gold exports to Hong Kong jump, but total U.S. gold exports also increased 40% from 36.1 metric tons (mt) in January to 50.4 mt in February. The top three countries that received the majority of U.S. gold exports were Hong Kong (15.5 mt), the United Kingdom (12.1 mt) and Switzerland (11.7 mt). As we can see in the chart below, U.S. gold exports to Hong Kong jumped from 7.2 mt in January to 15.5 mt in February: Furthermore, total U.S. gold exports to Hong Kong were 25 mt from July 2017 to Jan 2018 compared to 15.5 mt in February. The large increase in Hong Kong gold demand consumed nearly all of U.S. domestic mine supply: Total U.S. gold mine supply in February was 15.8 mt versus the 15.5 mt exported to Hong Kong. The majority of U.S. gold mine supply came from Nevada (11.4 mt) and Alaska (1.9 mt), with the remainder from various states (2.4 mt): 
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