From Yahoo Finance: 2025-03-31 13:04:00

Gold stocks in Comex warehouses are set to reach new highs due to import tariff risks, hitting 43.3 million troy ounces worth $135 billion. Spot gold prices hit over $3,100 per ounce. Despite recent slowdowns, gold is still being flown to the U.S. due to tariff uncertainties, with 25.4 million ounces delivered between December and March.

The influx of gold into the U.S. has caused pricing and physical market dislocation, equaling five years of U.S. gold consumption. Experts doubt gold will be exported out of the U.S. soon, but if excluded from tariffs, a reversal of the trend could occur, possibly bringing bars back to London as a main trading hub.

London, the top over-the-counter gold trading hub, has absorbed the shock of massive supplies to New York, improving liquidity. The London Bullion Market Association reported 8,477 metric tons in February, six times more than Comex stocks. Price discovery remains in London, with the Bank of England’s vaults seeing faster gold load times.



Read more at Yahoo Finance: Gold stocks in Comex warehouses on track to hit new records over coming days