A drop in precious metal prices in London.. and concerns about Trump imposing tariffs.
February 8, 2025183 ViewsRead Time: 1 minutes
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The amount of gold in London's vaults decreased by 4.9 million ounces in January, marking the largest monthly decline since monitoring began in 2016. Traders rushed to ship the precious metal to the United States to avoid tariff risks and take advantage of price differentials.
London is the world's largest gold trading center, with approximately $800 billion stored in vaults beneath the capital. Concerns that President Donald Trump may impose tariffs including on gold have driven prices higher in the United States, surpassing those in London last month, providing a profitable opportunity for gold holders able to transfer their assets across the Atlantic.
London is the world's largest gold trading center, with approximately $800 billion stored in vaults beneath the capital. Concerns that President Donald Trump may impose tariffs including on gold have driven prices higher in the United States, surpassing those in London last month, providing a profitable opportunity for gold holders able to transfer their assets across the Atlantic.
