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UK gold exports twice that of ETF selling in 2013

Posted on 24 February 2014

UK Gold Exports in 2013 were nearly double the volume of exchange-traded fund liquidation, new research shows. Compared with only 160 tonnes in 2012, exports of physical gold bullion totaled 1,739 tonnes last year according to data reported by the UK’s HMRC tax authority to the European Union’s Eurostat agency.
More than 5 times visible UK gold imports, according to a report from Macquarie Bank analyst Matthew Turner, and equal to 60% of annual world gold mining output, that was nearly twice the outflow of gold from ETF gold trusts, which typically vault metal in London to back their shares………………………………………..Full Article: Source


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