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Analysis of Bullion Export Statistics, Jan2024: High Mountains Lead to Deep Valleys, Declines to Lowest Level in 8 Months

(Detailed Analysis) In terms of volume, January saw the second consecutive month of significant decline, to 3459 tons, the lowest level since May 2023, m/m 75%, y/y 110%, a 43% decrease from the high in November 2023. Exports to South Korea decreased for the second consecutive month to 694 tons, 88% m/m and 129% y/y. Exports to Taiwan halved for the first time in five months to 699 tons, 50% m/m and 55% y/y. ; to Vietnam, 0 tons for the fifth consecutive month; to Thailand,
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