U.S. GOLD EXPORTS TO HONG KONG & CHINA : Doubled In October
However, U.S. gold exports Jumped 70% In September, at 50.1 metric tons (mt), with the majority going to Switzerland (15.3 mt) and the United Kingdom (13 mt). If we look at the chart from the article linked above, U.S. gold exports to Hong Kong (8.5 mt) and China (3.3 mt) placed in the third and fourth position respectively:
Then in October, something interesting took place. According to recently released USGS Gold Mineral Industry Survey, the U.S. exported 51 mt of gold in October with a large increase going to Hong Kong, China and India.
As we can see from the chart above, U.S. gold exports to Switzerland gained a little in October, reaching 17.6 mt compared to 15.3 mt in September…. but the big increase came from Hong Kong (12.9 mt), China (7.4 mt) and India (6.1 mt). In addition, U.S. gold exports to the United Kingdom fell considerably from 13 mt in September to only 2 mt in October.