Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

U.S. Gold Exports on the Rise

IMG Auteur
Published : February 13th, 2013
164 words - Reading time : less than a minute
( 1 vote, 4/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

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.


<< Previous article
Rate : Average note :4 (1 vote)
>> Next article
Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
100 Items That Disappear First in a Disaster
23 Markevthorne
68, 69 probably not that safe - particularly if you're growing your own vegetables - keep a Maine Coon cat instead: does the job automatically.
Farage Interviews Le Pen: “Prison of the EU”
21 Marneville
BRITANNIA RULES THE WAVES AND NOW BREXIT WAIVES THE RULES. GO FOR IT FRANCE AND RID YOURSELVES FROM THE CHAINS OF IDIOTS. NOT SIN...
How the Fed Operates — And Why It's a Problem
20 Marramasart
In a nutshell, the Fed facilitates the theft of the value of the dollar, as they can control the increase in supply which at the same time inverts ...
How the Fed Operates — And Why It's a Problem
20 Marneville1
With all due respects for outlining how the crooked american Fed works or should work. From all our research we find the following the Fed...
Sparta - Gold prohibition in a collapsing economy
18 Markevthorne
You've answered none of the authors points: your comment is flat rubbish.
America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads,...
16 MarCameron Waugh1
Just like the leaders of the Bolshevik revolution were not Russians, those formulating belligerent US foreign policy are not Americans, and they ha...
POTUS at SOTUS
16 MarDRGEORGE1
Try explaining that to my patients dying on public waiting lists or getting ripped off by exorbitant private specialist fees!
POTUS at SOTUS
08 MarS W.0
I don't know what hallucinogens Dr G is on but my experience, both working in, and using the health system in Oz is that it is very bloody good.!
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS