Exports of yellow metal from the United States increased by 23%

According to analysts, the United States shipped 418 tons of gold to other countries from January to October last year. The net exports of precious metals amounted to 244 tons, which is 23% higher than the figure for the same period in 2017.

In October 2018, America exported 37.1 tons of yellow metal and imported 15.8 tons. From January to October of the past year, precious metals weighing 418.4 tons were exported from the United States, which is 13.3 tons more than in the same period of 2017. According to the US Geological Survey (USGS), sixty-three percent of the yellow metal was sent in purified form. The USGS noted that during the reporting period, a hefty 174.4 tons of gold were imported to America. As a result, net exports of precious metals amounted to 244 tons, which is 23% more than last year.

Turkey, in which the demand for gold is traditionally high, does not lag behind America. According to the Central Bank of Turkey, the country's international reserves showed a significant increase by the end of 2018. The gold reserves of the Asian state by the end of November last year reached 15.74 million ounces or 489.56 tons. During this month, Turkey's gold reserves increased by 577 thousand ounces or 17.94 tons. Their cost is estimated at $18,499 million. In the international reserves of Turkey, the share of the yellow metal is 21%.