Search Blog Posts

Wednesday, August 13, 2014

The United States is running out of gold in the ground

​Translated to English for your reading pleasure...

Wednesday, August 13, 2014, 15:19 clock | Posted by
Der hohe Goldpreis erlaubt Minenunternehmen, mehr Geld für die Förderung auszugeben (Foto:
U.S. Gold Mining: It is
much dredged, but it is
always less out there.
Gold production in the United States continues to decline. In any month of the year 2014 US-mines have been promoted more than 18 tons of gold. In addition, the United States is further net exporter in terms of gold.
U.S. mines have produced yet still 17.3 tonnes of gold last May, 9.54 percent less than last year. This is clear from current figures of U.S. Geological Survey (USGS).

Thus, the trend of declining American gold mining continues. In any single month of the current year (reporting data from USGS) U.S. producers have fostered more than 18 tons of gold. Last year this was still the rule (see table below).

From January until May 2014 brought the producer 85.4 tonnes of gold from the ground. Last year there were in the same period or in the aggregate 89.2 tonnes, 4.4 percent more.
Goldproduktion USA Mai 2014
Gold Production USA since May 2013 (source: USGS)

Virtually no new large gold discoveries and declining gold grades in the ore are the main reasons for the growing decline in gold production in the United States.

In addition, the United States again in May more gold exported as imported. 26.2 tonnes flowed USGS from the United States from, mainly to Hong Kong (6.3 t) and Switzerland (12.9 t). Were introduced 23.7 tonnes of gold. Net there in May so outflows of 2.5 tonnes. For the full year 2013, net exports were even 379 tons. 692 tons of gold were exported only 313 tons were imported. Important factor is the cash outflows from US Gold ETFs and gold hungry Asians.
Gold Reporter