Seattle Times: Miami is a magnet for gold

Few people realize it is one of the hubs for the nation’s gold trade.Last year, gold for the first time was both the top import and export from the Miami Customs District.

Small gold bars glow red hot as they melt and mix together in a crucible. Then the molten gold is poured into a mold to form a larger bar that will undergo a complicated fire assay process, determining its purity.

On any given day in the downtown Miami office of Kaloti Metals & Logistics, a gold and precious-metals trading house, millions of dollars’ worth of gold arrives, is melted, formed into bars, assayed and shipped out.

Last year, the company handled 22 tons worth nearly $1 billion and is on its way to surpassing that in 2013.

Although Miami may have a reputation for glitz and bling, few people realize it is one of the hubs for the nation’s gold trade.

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