London is in the grips of a gold shortage as traders line up for weeks to get bars out of the Bank of England and ship them to the U.S. amid fears that the new Trump administration will levy tariffs on imports.
Gold inventories in New York are on a path to levels last seen at the outset of the COVID-19 pandemic, with stockpiles in the city hitting $82 billion.
In addition to safeguarding the U.K.’s gold reserves, the Bank of England acts as a holder of commercial gold owned by banks and for other countries and central banks. The gold bars are kept in nine underground vaults at the bank, located in the City of London
Both the Financial Times and Reuters reported that waiting times had soared for clients to retrieve this gold, and the data would suggest it’s on a fast track to New York.
Much of gold trading is frictionless and involves the owner of a bar of gold changing hands on the holder’s systems.
Fears around Trump’s rhetoric have accordingly sparked an influx of gold to the
Gold inventories in New York are on a path to levels last seen at the outset of the COVID-19 pandemic, with stockpiles in the city hitting $82 billion.
In addition to safeguarding the U.K.’s gold reserves, the Bank of England acts as a holder of commercial gold owned by banks and for other countries and central banks. The gold bars are kept in nine underground vaults at the bank, located in the City of London
Both the Financial Times and Reuters reported that waiting times had soared for clients to retrieve this gold, and the data would suggest it’s on a fast track to New York.
Much of gold trading is frictionless and involves the owner of a bar of gold changing hands on the holder’s systems.
Fears around Trump’s rhetoric have accordingly sparked an influx of gold to the
7 months ago
