Chart usGOLD   Chart usSILVER  
 
Food for thought
Historians are pessimistic by nature because te only future they can imagine is the past
Robert Skidelsky  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1295.10-3.65
Silver 20.570.04
Platinum 1476.60-1.40
Palladium 877.601.12
WORLD MARKETS
DOWJONES 16912-72
NASDAQ 4443-2
NIKKEI 1564628
ASX 561535
CAC 40 43671
DAX 967319
HUI 242-1
XAU 1020
CURRENCIES (€)
AUS $ 1.4316
CAN $ 1.4563
US $ 1.3376
GBP (£) 0.7911
Sw Fr 1.2167
YEN 137.2600
CURRENCIES ($)
AUS $ 1.0703
CAN $ 1.0887
Euro 0.7476
GBP (£) 0.5914
Sw Fr 0.9098
YEN 102.6180
RATIOS & INDEXES
Gold / Silver62.96
Gold / Oil12.77
Dowjones / Gold13.06
COMMODITIES
Copper 3.240.02
WTI Oil 101.430.46
Nat. Gas 3.79-0.03
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
U.S. Gold Exports on the Rise
Published : February 13th, 2013
164 words - Reading time : less than a minute
( 1 vote, 4/5 ) Print article
 
    Comments    
Tweet

One of the details from Friday’s report on the shrinking trade deficit during the month of December was that gold exports played an important role in narrowing the gap. More than 20 tonnes of the stuff, worth roughly $1.2 trillion, left our shores, most likely headed for Asia. Based on the data below from the St. Louis Fed, there isn’t anything particularly new about this, it’s just not something that I’ve ever thought about.


 

Of course, many people think that an even larger amount of monetary gold (i.e., metal held as reserve assets by the government and/or central bank) leaves the U.S. every month as part of a gold leasing program related to the nation’s official gold reserves of 8,134 tonnes. Just as an interesting point of reference, if the official gold reserves of the U.S. were being leased out at the same 20 tonnes per month rate as nonmonetary gold, it would take about 33 years to deplete the entire U.S. gold stockpile.

 

Tweet
Rate :Average note :4 (1 vote)View Top rated
Previous article by
Tim Iacono
All articles by
Tim Iacono
Next article by
Tim Iacono
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Tim Iacono

Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
Tim Iacono ArchiveWebsiteSubscribe to his services
Most recent articles by Tim Iacono
7/30/2014
7/29/2014
7/29/2014
7/28/2014
7/28/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer