Commodity Trade Mantra

Posts Tagged ‘Gold Mine Supply’

The U.S. Exports More Gold To Hong Kong Than It Produces

The U.S. continues to export more gold than it imports or produces from domestic mines. For the first nine months of the year, the U.S. suffered a 24 mt deficit as it exported 380 mt of gold versus 155 mt from its domestic mine supply and 201 mt it received in gold imports. Not only the U.S. exported more gold than it produces, Australia is doing the very same thing.

U.S. Gold Production Finally Hit Hard Due To Low Price

The lower price of gold has finally taken its toll on U.S. gold production. Domestic gold mine supply fell considerably in May compared to the same period last year. This is a significant amount as the United States is the fourth largest gold producer in the world. If current trends continue, U.S. gold production will fall below 200 mt in 2015.

Market Report: Better tone for Volatile Gold

Having broken down through major support at $1180 level which had held for 18 months, one would expect gold to consolidate before attempting to break back up through it. If & when it does break convincingly upwards, gold will be sending a strongly positive technical signal. Silver followed similarly & the corresponding level is $17.

Australia Gold Exports: Two-Thirds Of Its Gold Mine Supply To China

The majority of world gold production heads to China. In 2012, Australian gold exports to China tripled compared to 2011 reaching 110 mt, 44% of its 251 mt gold mine supply & in 2013, exported 176 mt of its 266 mt gold mine supply. In just 2 years, Gold exports to China increased from 12% of its mine supply in 2011 to 66% in 2013.

US Exports 128 Tons Of Gold In Jan, Feb 2014 - Supply Deficit Increases

Not only did the United States export 128 metric tons of gold in the first two months of the year, its supply deficit continues to increase. Hong Kong and Switzerland imported 105 mt of gold in the same period. The overwhelming majority of U.S. gold exports are heading to Asia, India and the Middle East.

The Run On U.S. Gold Continues - East Absorbs All Gold West Can Deliver

The US had a record year of net gold exports in 2013. As the West continues to print fiat currency & manufacture derivatives to keep their financial systems from imploding, the Chinese & Russians focus on increasing their domestic gold mine supply while the East absorbs whatever gold the West can deliver.

Market Continues To Purchase All Allocated Silver Eagles From US Mint

Even though the huge amount of Eastern gold buying continues to steal the show, retail investors are purchasing more Silver Eagles to Gold Eagles than ever. In order for the US Mint to build up inventory of Silver Eagles, it has to ration sales to its authorized dealers on a weekly allocated basis.

Record U.S. Gold Bullion Exports Head to Hong Kong & Switzerland

As the Fed continues with its Quantitative Easing policy, U.S. gold bullion exports hit a new record in the first nine months of 2013. While it’s no secret to anyone in the precious metal community, the majority of U.S. gold exports found their way to Hong Kong and Switzerland.

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