Japan's gold export rush hints at flourishing smuggling operations

TOKYO -- Japanese exports of gold are surging as U.S. tariffs and other economic concerns drive global demand, fueling questions over where the ingots originated in the first place.

Japan's nonmonetary gold exports came to 281.1 billion yen ($1.94 billion) in preliminary balance-of-payments data for February -- roughly 4.7 times a decade earlier. Notable destinations included the U.S., the U.K., Hong Kong and Singapore.