02-19-25 CFG News

In a bold move to protect American interests, President Donald Trump's recent tariff threats have sent shockwaves through global markets, particularly affecting the gold industry. Fearing potential import tariffs on raw materials, including gold, traders are hastily relocating vast quantities of bullion from London's Bank of England to New York. This strategic shift aims to capitalize on higher gold prices in the U.S. market and circumvent any punitive measures that could be imposed on European imports.

The exodus has been so substantial that the Bank of England reports delays of up to eight weeks for gold withdrawals, a significant increase from the usual few days. This situation underscores the confidence in President Trump's America-first policies, prompting a reevaluation of gold storage strategies worldwide. While Democrats express concern over the potential for escalating trade tensions, the administration remains steadfast, prioritizing national economic security and resilience.

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The Bank of England's vaults, located deep beneath London, hold approximately 400,000 gold bars, making it one of the largest gold repositories in the world.