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Banks Rush to Fly Gold from London to New York Amid Record Price Gap

The Bank of England has emptied some gold vaults valued at over $252 billion, moving gold to New York City due to rising prices there.
JPMorgan Chase is expected to deliver over $4 billion in gold to New York, responding to demand from higher gold futures prices which have risen by 11% this year.
Approximately 8,000 gold bars, about 2% of the Bank of England's total stock, have been transported to meet increased demand in New York's futures market.
Deputy Governor of the Bank of England, Sir Dave Ramsden, stated that the Bank has received many requests as New York's futures prices surpassed those in London.

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Why are banks flying out gold from London to New York?

The US bank JPMorgan and the UK’s HSBC are reportedly shifting gold bars from London to New York. About 8,000 gold bars are estimated to have been removed from the Bank of England’s vaults over the past few months. This comes amid looming threats of US President Donald Trump’s tariffs on Europe. But how is the bullion being transferred?

24 days ago·Mumbai, India

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morningbrew.com

Airplanes in the night sky are full of gold

The precious commodity is flying commercial from the UK to New York in droves.

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Hindustan Times

Banks like JPMorgan and HSBC are flying gold worth billions from London to New York. Here's why

The stampede to get gold to the US comes at a time when President Donald Trump has said that Europe’s trade stance was an atrocity compared to the US

24 days ago·New Delhi, India

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Business Insider

Traders are scrambling to fly gold bullion across the Atlantic — here's why

Fears about the impact of trade tariffs mean gold prices are higher in New York than London, sparking a scramble to get bullion across the Atlantic.

25 days ago·United States

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US Banks Are Flying Gold Worth Billions Of Dollars From London To New York. Here's Why

The gold rush is largely driven by Trump's tariff threats, which have caused gold prices in London to drop by around $20 since December.

25 days ago·New Delhi, India

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The Independent

Why are U.S. banks flying gold from London to New York?

About 8,000 gold bars have been moved out of the Bank of England’s vaults in recent months

27 days ago·London, United Kingdom

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Coverage Details

Total News Sources18

Leaning Left6Leaning Right2Center3Last Updated24 days agoBias Distribution

55% Left

Bias Distribution

55% of the sources lean Left

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Quartz broke the news in United States 29 days ago on Thursday, February 13, 2025.

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