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America's appetite for gold is 'sucking' bullion out of other countries

27 February 2025
in World
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America's appetite for gold is 'sucking' bullion out of other countries
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The strong U.S. demand for gold is causing a “glut of gold” in New York’s vaults as traders prepare for President Trump’s tariffs on Canada and Mexico. Over 600 tons of gold have been stockpiled in New York since December, a significant increase that is out of the ordinary. Concerns about the impact of tariffs on gold and silver have prompted U.S. banks, investors, and traders to move the precious metal from London to New York.

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Tags: 039sucking039America039sappetiteAsia EconomyBreaking News: EconomyBreaking News: Politicsbullionbusiness newsCanadacountriesDonald TrumpEconomygoldLondonMetal CommoditiesMexicoNew YorkPoliticstradeUnited States
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