The move comes as traders worldwide rush to deliver bullion to the US ahead of potential tariffs on the metal. Prices for gold on New York’s Comex have surged above international benchmarks, resulting in unprecedented tightness and record outflows from London vaults.
The precious metal has made fresh highs in 2025, as growing trepidation surrounding US President Donald Trump’s disruptive tariff announcements drives demand for haven assets. Investors are trying to get a read on the potential implications for the global economy, reinforcing bullion’s role as a store of value in uncertain times.
(By Sybilla Gross)