Swiss gold exports surged 44% month-over-month in June to the highest level since March, driven by bullion flowing back to UK vaults from the United States. Exports to the UK jumped dramatically to 83.8 metric tons – the highest since August 2019 – as gold that was shipped to the US earlier this year to cover potential tariff risks returned after President Trump excluded bullion from reciprocal tariffs in April. London vault holdings rose 2.1% to 8,776 tonnes, the highest since August 2023.

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JP Morgan: Gold Could Hit $5,400 by 2027
Gold is on track for its strongest year since 1979, up 60%+ with silver doubling to record highs. JP Morgan just raised targets to $5,055 by late 2026, citing relentless central bank buying and geopolitical risks. But questions linger over inflation data and Fed policy. Here’s what investors need to know.




