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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).

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?

Do they count as export if the owner doesn't change?

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.

The article is about the export of mined gold. The US produces ~160 tons of gold annually from domestic mining operations.

That's what I thought too but the article says it's mostly fresh mine output (and recycled).

Probably all of it.

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).

So not actually productive exports. Just draining the coffers as the criminals in charge loot the commons.

Huh. I'd have thought that capacity would rise with ore supply. It is "free money". Why leave it in the ground?

Sounds as if there is a point at which digging and refining is more expensive than buyers are willing to pay, so when demand goes up it takes time to expand supply.

I think those count as services. Gold is the most-exported good.

Would have thought advertising and transaction fees myself, but the article says it's usually oil (ok I should have thought of that), "pharmaceuticals" (mkay, seems cheaper to make elsewhere so that's a bit strange), or aircraft and their parts (wut? How many aircraft can the world need that it commonly tops the export chart of the wealthiest country?!)

I mean, wouldn't that make sense given the market caps?

So many trillion-dollar valued AI-focused companies.

It’s more of losing trust in the US. If they don’t believe they’ll have access to it when needed or if they believe it might be seized for whatever made up reason, makes sense to move it somewhere they’ll have control over it.

Why would the dropping value of the USD be a factor in selling gold? Doesn't holding gold hedge against exactly that?

I think the real reason is that they're afraid of political instability in the US that may result in 1) an inability to retrieve their gold, or 2) the government confiscating it.

I don't quite follow. Countries hold gold to protect their own currency from devaluation, not bc they expected it to become stronger against a dollar.

It's more like if you think Trump is likely to say, actually that's my gold.

They think the Trump administration will confiscate it.

That’s not just a US boomer thing, you’ll see the same in many Arabic countries for example, across generations.

Was anyone confused by the title and thought we are exporting more gold in volume or weight than other products? It seems obvious that gold must be winning on value.

From the article:

>That’s not just because the price of gold reached record high prices. In February 2026, the tons of gold exported may have set an all-time record.

Exports are typically ranked in dollars, not in kilograms. Do we think about the weight of GPUs a country exports or their value?

Why'd you trust this particular article?

https://imgur.com/a/bAbAFru

All of these links are from publications I've never heard of, and have a hard time independently verifying their credibility.

For instance, TradeInt advertises it is trusted by Samsung, but I can't find any record of Samsung utilizing TradeInt for anything. TradeInt advertises a 5-star rating on platforms like Product Hunt (YC S14), yet the person who created the listing created their account when TradeInt launched and has no followers or other activity since 2024.

They all appear to be blog spam, from my perspective.

The article that you posted seems to be LLM slop with no references to their claims and the article in the post references data from bea.gov so :shrug:

The biggest gold mines by far are in the US, Russia, and other former Soviet republics.