U.S.: Gold Market 2022

Gold Market Size in the U.S.

In 2021, the U.S. gold market increased by X% to $X, rising for the third year in a row after four years of decline. Overall, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Gold Production in the U.S.

In value terms, gold production shrank to $X in 2021. In general, production, however, continues to indicate a slight decline. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Gold Exports

Exports from the U.S.

After two years of decline, overseas shipments of gold increased by X% to X tons in 2021. Over the period under review, exports, however, showed a pronounced slump. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gold exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Switzerland (X tons), the UK (X tons) and Hong Kong SAR (X tons) were the main destinations of gold exports from the United States, with a combined X% share of total exports. Singapore, India, Canada and Australia lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), the UK ($X) and Hong Kong SAR ($X) constituted the largest markets for gold exported from the United States worldwide, together accounting for X% of total exports. These countries were followed by Singapore, India, Canada and Australia, which together accounted for a further X terms of the main countries of destination, Singapore, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, with an increase of X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were Canada ($X per kg) and the UK ($X per kg), while the average price for exports to Australia ($X per kg) and Singapore ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into the U.S.

In 2021, imports of gold into the United States declined rapidly to X tons, shrinking by -X% on 2020 figures. Overall, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, gold imports reduced rapidly to $X in 2021. Over the period under review, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Switzerland (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of gold imports to the United States, with a combined X% share of total imports. Colombia, Nicaragua, Argentina and South Africa lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gold suppliers to the United States were Switzerland ($X), Canada ($X) and Mexico ($X), with a combined X% share of total imports. These countries were followed by Colombia, Nicaragua, South Africa and Argentina, which together accounted for a further X, with a CAGR of +X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gold import price stood at $X per kg in 2021, with an increase of X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Switzerland ($X per kg) and South Africa ($X per kg), while the price for Argentina ($X per kg) and Nicaragua ($X per kg) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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