Reuters reports that US gold exports were up 43% month over month to $4 billion in DecemberOn Friday, Commerce Department data showed U.S. exports of non-monetary gold, which excludes central bank transactions, soared by 43 percent to $4 billion in December from the previous month.
One-half of the total went to Hong Kong:
That’s the highest total and the biggest month-on-month jump
in U.S. private gold exports since September 2011, when gold
rallied to a record high over $1,920 an ounce. Prices are
currently about 14 percent below the peak at $1,643 per ounce.
Hong Kong accounted for around $2 billion, or half of the
nonmonetary gold exports for the month.
China last updated their official gold reserves at 1,054.1 tons in 2009. The next time China updates its official gold reserves, we would not be surprised to see the official number increase 10 fold.
FEBRUARY 11, 2013 BY THE DOC – Silver Doctors