U.S. Gold Bullion Exports To Hong Kong Surge, 82% Of Total Shipments

U.S. gold bullion exports to Asia started off with a bang in 2017, as the majority of the total shipped in January went to Hong Kong.  Not only did the U.S. export most of its gold bullion to Hong Kong, it was the highest monthly amount in quite some time.

Looking back at the data for the past two years, Hong Kong’s highest monthly amount of gold bullion imported from the United States was less than half of what was shipped in January.  According to the USGS, the U.S. exported 31.6 metric tons (mt) of gold bullion to Hong Kong, 82% of the total 38.1 mt shipped in January:

The four other countries that received the remaining lion’s share was, China (2 mt), India (1.6 mt), Singapore (1 mt) and Switzerland (1 mt).  If we assume that most of the gold bullion exported to Hong Kong made its way into China, then if we add the other 2 mt that China received, the total gold bullion shipped to China was more like 33.6 mt.

Either way, the overwhelming majority of U.S. gold bullion exports in January went to Asian countries and India (35.2 mt).  Switzerland only received 1 mt of gold bullion from the United States. However, Switzerland also received 14.3 mt of gold dore bars and precipitates from the U.S..  The majority of this amount likely came from domestic U.S. gold producers.

Regardless, to see Hong Kong receive 82% of the United States finished gold bullion bars in January, is quite impressive to say the least.  If we convert that from metric tons, it comes out to be a little more than a million oz.  This is a great deal of gold because the United States domestic gold miners only produced 18.7 mt of gold (601,000 oz).

Furthermore, the U.S. total gold imports in January (bullion, dore bar & precipitates) were 18.9 mt.  Thus, total domestic mine supply plus imports equaled 37.6 mt.  The U.S exported 84% of their total gold mine and import supply to Hong Kong.  If we include the total amount of gold that the U.S. exported in January of 55.4 mt (bullion, dore bars & precipitates), the U.S. exported nearly 18 mt more gold than they produced and imported.

Of course, the majority of U.S. gold continues to head EAST.  This is a bad sign as the Federal Reserve and U.S. Govt continue to prop the domestic economy and financial system with Debt and Derivatives.  Sure, China is also added a lot of debt, but they are also acquiring one hell of a lot of gold.  When the overdue financial crash happens, and the dust settles, China and Russia will be holding onto a lot of physical gold while the WEST will be holding onto a lot of worthless paper.

I tried to do research on why Hong Kong imported so much gold from the U.S. in January, but nothing really stuck out.  It wasn’t due to lower prices as the gold price actually increased from $1,160 to $1,220 in January.  So, the Chinese were not taking advantage of lower prices.

It will be interesting to see how much more gold flows to the EAST this year as the U.S. economy and financial system begin to disintegrate.  While the Dow Jones Index could continue to move higher on more HYPE and HOT AIR, its valuations are extremely over valued… so is the S & P 500.

Please stay tuned for U.S. gold export updates as the USGS releases them.

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14 Comments on "U.S. Gold Bullion Exports To Hong Kong Surge, 82% Of Total Shipments"

  1. Most of the gold that goes to Switzerland is refined to 9999 kilo bars and leaves again and heads to China; Switzerland refines a majority of all annually mined (plus scarp) gold and as such is a major hub in the gold market.

    As for “RIC” (Russia India China), they are a black hole for gold bullion – they suck up all they can, and none is coming back out in the foreseeable future… When the western CBs decide to quit leasing more (or the last of their remaining) bullion out into “the markets”, then the end of the suppression is at hand.

    • lastmanstanding | April 11, 2017 at 7:33 am | Reply

      If there was a REAL CONSTITUTIONAL AMERICAN CITIZEN in charge, our gold and silver would used to benefit REAL CONSTITUTIONAL AMERICAN CITIZEN’S first…of which there might only be less than 100 million left.

      God I hate globalism. Let’s just stay home and enjoy what we have.

  2. James Papsdorf | April 10, 2017 at 3:32 pm | Reply

    Another excellent report-short, succinct and pointed. With these massive gold exports out of the USA, you have to wonder why CB manipulation of the POG is still so effective. I hope Janet Yellen and Donald Trump take the time to read this report !

    • DisappearingCulture | April 11, 2017 at 5:19 am | Reply

      ” I hope Janet Yellen and Donald Trump take the time to read this report !”

      So they can adjust their strategy?

  3. I think these imports are going to the Chinese people not the government. They encourage citizens to buy gold. Their banking system is a mess why not buy gold? Both Americans and Chinese folks need insurance protection.

    I like to speculate on gold mining stocks. However, I have a core position in physical metal that bought years ago and never sell. I think a man in China might have the same idea? The only difference is the China man has to start later than I did and pay more.

    Likewise, china is starting later than the usa in the gold rush. All this manipulation gives them a chance to catch up.

  4. Shall one presume this gold was NOT purchased at COMEX ?

  5. When one of the BRICS countries buys several contracts on the comex and then forces delivery, you know the gigs up.
    For now they are happy stackers at the lower prices.

    • DisappearingCulture | April 11, 2017 at 5:22 am | Reply

      “When one of the BRICS countries buys several contracts on the comex and then forces delivery, you know the gigs up.”

      Then they likely will have “the strong arm” of the U.S. government in their face. No I think they will just accumulate quietly, and let rather than force implosion or collapse on it’s own

  6. Thanks Steve, regards.

  7. Does this mean that the little gold still at Fort Knox and in New York is now gone?

  8. Remember all those “We Buy Gold Jewelry” stores that popped up on every corner around 2010? I went to one with a friend who had some old gold jewelry she wanted to sell as she preferred the cash. Every single one of the stores we went to had Chinese staff. I thought at the time it seemed strange.

  9. Don’t fret, you people in the USA. The central banks love it when a plan comes together. The gold going east only has value in the currency context when it moves and the USD is the price model measurement tool for the value of gold when it moves.

    Things are coming together for the plan of global liquidity that is debt-free and where the US always gets a piece of the weigh-scale service.

    Goldmoney.com/r/0UZxqF

  10. When I see the reference to the Chinese as being the receptors of the gold I find it interesting that the Chinese people are trying to get out of China which is no problem but they must leave their wealth in China. Many through corporations have purchased homes and large tracks of land in Vancouver; then left, selling their property once they make it here. Others have attempted to smuggle their wealth out with major punishments. Others have transferred their wealth into Bitcoin then sold their Bitcoin once they have arrived. Judging by the price of Bitcoin and the prices of land and homes in Vancouver they haven’t made it to North America yet.
    Steve, thank you for all your hard work, I am grateful you are here.

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