Collapse Of U.S. Gold Scrap Exports As Suppy Dries Up
Regardless, U.S. gold scrap exports in 2013 fell to their lowest level in years. According to the USGS Gold Mineral Industry Surveys and Yearbooks, U.S. gold scrap exports fell from 886 metric tons of gold (gross weight) in 2008, to 128 metric tons (mt) in 2013.
Some believe the decline in gold scrap exports in 2012 and 2013 were due to the fall in the price of gold. While this may be true in 2013, it was not the case in 2012. The average price of gold in 2012 ($1,669) was higher than in 2011 ($1,571).
We can see that U.S. gold scrap exports fell 60% from 663 mt in 2011 to 266 mt in 2012, even though the price of gold was nearly $100 higher in 2012.