| ▲ | jpollock 4 hours ago |
| I wonder how much of that are foreign central banks moving their gold reserves out of the USA... France, The Netherlands and Germany have been moving gold. https://www.bbc.com/news/articles/cvgyn8q8gqxo |
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| ▲ | morsch 4 hours ago | parent | next [-] |
| France completely exited New York, the Netherlands roughly halved what they've stored there. That was in 2026. They didn't physically ship any of it, they sold it and rebought in Europe. Germany moved 111t from New York in 2016, and, afaict, nothing since then. There's still 1236t left. Italy also keeps over 1000t in New York (no plans for repatriation). |
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| ▲ | Flashtoo 5 minutes ago | parent | next [-] | | > They didn't physically ship any of it, they sold it and rebought in Europe. The Netherlands physically moved 27 tons of gold from the US and Canada (mostly New York) to the Netherlands this year. | |
| ▲ | JumpCrisscross 4 hours ago | parent | prev | next [-] | | > They didn't physically ship any of it, they sold it and rebought in Europe This is effectively outsourcing that process to the banks. | | |
| ▲ | minraws 4 hours ago | parent | next [-] | | Banks can keep it in US and stay happy, they don't necessarily immediately need physical gold. So it's quite efficient, lots of govts do similar stuff. | | |
| ▲ | JumpCrisscross 3 hours ago | parent | next [-] | | > Banks can keep it in US and stay happy If the Banque de France holds physical in New York and sells it to JPMorgan (nothing moves) and then in Paris buys contract for physical from UBS, there will probably need to be physical gold that moves. In all likelihood, Swiss gold held by e.g. a Gulf customer might be sold to Paris (nothing moves) and JPMorgan may entice Venezuela to take those contracts on its balance sheet (nothing moves). But if it’s a big trade, the price of delivering physical in Paris (or Genève) will go above spot in New York at which point it’s profitable for JPMorgan to take delivery, load up planes and physically ship gold. | | |
| ▲ | roenxi 17 minutes ago | parent | next [-] | | To supplement this, there was an interesting situation in 2025 [0] where a financial signal developed and we saw physical gold flows from London to New York. A very similar mechanism; governments do something, price signal develops, gold starts flying around. [0] https://www.usagold.com/gold-arbitrage-trade-winds-down-amid... | |
| ▲ | Gravityloss 3 hours ago | parent | prev [-] | | I imagine a convoy of small but heavily armored ships leaving New York, with nervous sailors clutching machine guns on the decks. | | |
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| ▲ | tarsierscripter 2 hours ago | parent | prev [-] | | The Yapese people have been doing the same thing [1] for centuries. [1] https://en.wikipedia.org/wiki/Rai_stones | | |
| ▲ | Loughla an hour ago | parent [-] | | It does amuse me greatly that major world powers are trading large piles of stones in a place without moving them just like that. That's deeply satisfying. |
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| ▲ | napierzaza an hour ago | parent | prev [-] | | [dead] |
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| ▲ | an hour ago | parent | prev [-] | | [deleted] |
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| ▲ | jandrewrogers 2 hours ago | parent | prev | next [-] |
| The article is about the export of mined gold. The US produces ~160 tons of gold annually from domestic mining operations. |
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| ▲ | iamnothere 4 hours ago | parent | prev | next [-] |
| It’s specifically nonmonetary gold, so that’s a separate issue unless those nations were holding non-reserve gold here. Although a sibling commenter mentioned that they moved their gold by selling it and rebuying it in Europe. If that gold qualifies as non-reserve gold after sale, and is moved out after sale to (for example) China, then perhaps? |
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| ▲ | progval 4 hours ago | parent | prev | next [-] |
| Do they count as export if the owner doesn't change? |
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| ▲ | codethief 4 hours ago | parent | next [-] | | If central banks sell their gold in the US and buy new gold abroad (to save themselves physically transporting the gold across the ocean[0]), I suspect that the demand this creates for gold abroad will ultimately cause US gold exports to rise, too. [0]: See the link in https://news.ycombinator.com/item?id=50134172 | | |
| ▲ | actionfromafar an hour ago | parent [-] | | Selling it in place neatly sidesteps suspicion about how secure the NY gold really is and if it's all really still there, too. |
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| ▲ | Crunchified an hour ago | parent | prev [-] | | Do they count as export if the owner doesn't change? I don't know. Does it count as export if it's not moved an inch? |
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| ▲ | mqus 3 hours ago | parent | prev | next [-] |
| From the article:
> The U.S. government is still reporting that its gold reserves are unchanged, so these exports look to be coming from current mine output and recycling operations. Not sure if "The U.S governments gold reserves" also includes the ones from other countries though. |
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| ▲ | raincole an hour ago | parent | next [-] | | The answer is no. When talking about gold reserve that means U.S. Treasury-Owned Gold. Of which the volume hasn't changed much for decades. | |
| ▲ | exe34 3 hours ago | parent | prev [-] | | [flagged] | | |
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| ▲ | rkagerer 2 hours ago | parent | prev | next [-] |
| That's what I thought too but the article says it's mostly fresh mine output (and recycled). |
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| ▲ | raincole an hour ago | parent | prev | next [-] |
| Gold repatriation doesn't count as export. So the answer to "how much" is zero. |
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| ▲ | csomar 4 hours ago | parent | prev | next [-] |
| I don't think that counts as exports although they could be selling in the US and buying locally where traders move the gold (then it will be counted as exports). |
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| ▲ | dyauspitr 4 hours ago | parent | prev | next [-] |
| Probably all of it. |
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| ▲ | samudrijan 4 hours ago | parent | prev [-] |
| So not actually productive exports. Just draining the coffers as the criminals in charge loot the commons. |
