HMRC And Eurostat Alter Historic UK Gold Trade Data
By GCRU Gold News on Friday, August 8 2014, 14:15 - Permalink
It was in August 2013 when I started digging into UK gold trade data. While at the time China was importing unprecedented amounts of gold, through customs data I was able to track the source all the way back to the UK, home of the London Bullion Market. In 2013 the only available database for UK gold trade was Eurostat. When downloading the numbers from 2013 and all the years before something quite remarkable appeared to me. According to Eurostat the UK imported 614 tonnes of gold in August 2008 and 1,352 tonnes in September 2008, just from one country; Germany. It was hard to comprehend these numbers, how could Germany export nearly 2,000 tonnes of gold in two months? This had to be a mistake, I thought. Eventually I wrote a post about it leaving it to the reader to decide whether to believe these numbers.