Gold News: US Exports Are Higher Than You Think

Today’s gold news sheds new light on the state of the market. We talk a lot about gold reserves – which country has how much, who’s added the most lately.  Now let’s look at net gold exports – how much gold a country sells outside vs how much they buy from outside sources. And if they produce any gold through mining, that’s a third factor, which is added to imports as a source.  

Net all these together and you get a gold trade balance. What’s the bottom line? Hold on to your chair. Since the turn of the new millennium, the US has had a net trade balance of negative 2,105 metric tonnes of gold. Yep, that seems to be the correct figure, if reported numbers are all accurate. And it adds up to more gold exported than the six top countries hold, combined.

You can see the breakdown of figures at today’s featured article. And, if you’re like this Gold Enthusiast, you’ll end up pondering what’s going to happen to US gold prices as the US Dollar’s reserve currency status continues to erode. It’s going to be a tricky question to tackle at some point down the road. 

 Related: Why Isn’t Gold Going Up? Part IV

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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