U.S. Exports Nearly All Gold Mine Supply To Hong Kong

The U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply.  According to the USGS recent Gold Mineral Industry Survey, February gold exports to Hong Kong more than doubled compared to the prior month.  This was an interesting increase in gold demand from Hong Kong as the market price increased slightly month over month.

Not only did gold exports to Hong Kong jump, but total U.S. gold exports also increased 40% from 36.1 metric tons (mt) in January to 50.4 mt in February.  The top three countries that received the majority of U.S. gold exports were Hong Kong (15.5 mt), the United Kingdom (12.1 mt) and Switzerland (11.7 mt).