U.S. Gold Imports Skyrocketed 407% Through April

SEATTLE (Scrap Monster): The latest data published by the U.S. Census Bureau points to notable surge in gold imports by the country during the initial four-month period of the current year.

The cumulative imports skyrocketed by 407.17% from $2.21 billion in Jan-Apr ’19 to $11.19 million in the first four months of 2020. The leading source of import was Switzerland. The imports from that country were valued at $4.07 billion, with a market share of over 36%. In second place was Australia, whose supplies of the yellow metal to the U.S. were valued at $1.53 billion. The third largest supplier was Mexico, which supplied $1.06 billion worth of gold into the U.S. The other primary sources of import were Canada ($1.01 billion) and Singapore ($928.2 million).

The gold imports by value totalled $6.66 billion for the month of April.

Meantime, the exports of gold increased marginally by 1.86% through April to $5.66 billion, compared with $5.56 billion in the comparable period a year before. The leading export destinations were the UK ($3.16 billion), Switzerland ($1.44 billion), Canada ($387.87 million), India ($200.96 million) and Italy ($137.42 million).

The exports to the above top five market destinations totalled $5.33 billion in Jan-Apr ’20, accounting for more than 94% of the total exports out of the U.S.

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