🇦🇺💰📈🏅 Gold Rush Drives Record Aussie Exports to U.S., Flipping Trade Balance
🔹 Summary:
Australia recorded its strongest-ever three-month export surge to the U.S., driven by a gold-buying spree as Trump's tariffs rattled markets and fueled demand for safe-haven assets.
The boom flipped Australia’s usual trade deficit with the U.S. into a surplus, marking a sharp reversal in trade dynamics.
🔹 Key Points:
• Exports to the U.S. hit A$16.7 billion in Q1, triple the value from a year earlier.
• Australia posted a A$4.1 billion goods surplus with the U.S., up from a A$6.2 billion deficit last year.
• Non-monetary gold exports surged 26% in March alone, lifting total exports 7.6% month-over-month.
• Iron ore shipments rebounded nearly 12%, contributing to a A$6.9 billion March trade surplus.
• Gold prices have soared 19% YTD in AUD terms, boosting cash flow for Australian miners.
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