Gold bullion exports in 2013 until Sep exceeded entire 2012 exports: USGS

WASHINGTON (Scrap Monster): The US Gold bullion exports hit a new record during the first nine months of the year. Not only has the exports recorded significant growth year-on-year, but also surpassed the total exports for the entire year 2012.

According to data provided by US Geological Survey, the US gold bullion exports during 2013 until September totaled 416 mt. This is 47% higher when compared with the exports during the corresponding nine-month period in 2012.In the first nine months of 2012, the United States had exported only 283 mt of gold bullions. Furthermore, the US gold bullion exports during the first nine months of the year has exceeded the total exports of 371 mt during the entire year 2012.

Out of the 416 mt exports during January-September, the combined total received by Hong Kong, Switzerland and the UK amounted to 332.3 mt. The exports to these three destinations accounted for more than 80% of the total US bullion exports during the period.

The USGS Gold Mineral Industry Survey data for the period until September indicates that Hong Kong was the largest destination of US bullion exports. Hong Kong received a total of 176.3 mt during the nine-month period. In second place was Switzerland with total imports of 130.9 mt. The US bullion exports to the UK totaled 26 mt.

Additionally, the US exported 5.1 mt of ores and concentrates. The exports of gold dore and precipitates totaled 152 mt during the period. Adding up all the categories, the US gold exports during the first nine months of the year totaled to 573 mt, significantly higher when compared with previous year.