State’s exports enjoying a gold rush
By GCRU Gold News on Wednesday, April 15 2015, 23:10 - Permalink
In a state devoid of gold mines, Massachusetts exported nearly $2 billion in gold last year to places such as the United Kingdom, Switzerland, and Hong Kong, according to WiserTrade.org, a Leverett trade research group. And these were not paper transactions but 62,500 pounds of the glittery metal — roughly the weight of a herd of more than two dozen rhinoceros.
As it turns out, much of the gold leaving the state appears to be just passing through. In 2014, Massachusetts was not only the nation’s fifth-largest gold exporter but also its fourth-largest importer, accepting about $1.5 billion from countries such as Canada, Colombia, and Mexico.
Metalor’s suppliers include mining companies, central banks, dealers, recyclers, and industries producing precious metal waste, according to the company’s most recent annual report.