Posted by Francis Koh on 21 Jan 2014

Is The U.S. Running Out of Gold Scrap?

One such indicator is the amount of U.S. gold export scrap.  At one point in time, the United States was exporting a great deal of gold scrap and waste, however it looks like its citizens are now…. tapped out.

In a previous article, “U.S. Total Gold Exports Up 31% in Oct 2013″, I discussed the record amount of gold bullion being exported from the United States.  The table below shows just how much gold is leaving the country:

 Total US Gold Bullion Exports 2013 Jan-Oct

In the first ten months of the year, 449 metric tons (mt) of gold bullion were exported from the U.S. with the majority going to Hong Kong (193.6 mt) and Switzerland (143.5 mt).

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