Over 600 tons of gold (nearly 20 million ounces) has flooded into New York City vaults since December as traders rush to stockpile the precious metal ahead of Donald Trump’s impending tariffs.
Initially targeting Canada and Mexico with 25% tariffs set to take effect next week, market fears have expanded to potential broader tariffs affecting other major gold hubs like the UK and Switzerland.
This unprecedented movement has created what experts call a “glut of gold” in New York, disrupting normal supply chains and driving U.S. gold futures to outpace international counterparts.