Australia’s non-monetary gold exports to the US have surged to record levels with data from the Australian Bureau of Statistics’ monthly trade report revealing the total value reaching $5.272 billion in January.
Gold sales to the US in December 2024 saw a dramatic jump to $1.17 billion, followed by an even more staggering $4.62 billion in January 2025 (87% of the $5.272 billion total), more than twice the value of exports to the same destination for the entire calendar year of 2024.
Demand for non-monetary gold from the US used for investment, jewellery, and industrial purposes ranged from $31 million to $337 million per month throughout 2023 and 2024 but has lifted dramatically in the past two months.
Source: Australian Bureau of Statistics
The spike comes amid growing global demand for gold, as investors seek safe-haven assets amid economic uncertainty.
Hedge funds, institutional investors, and gold-backed exchange-traded funds (ETFs) are among the key US buyers likely driving the surge.
Rising central bank purchases of monetary gold have also contributed to higher market prices, prompting increased interest in non-monetary gold.
Write to Dan Petrie at Mining.com.au
Images: Mining.com.au
