Gold Rush 2025
Gold is on the move—and not in small amounts. A surge in bullion shipments to the U.S. has left London’s gold market struggling to keep up, with wait times to withdraw physical gold at the Bank of England stretching from a few days to nearly two months. Why? Fear.
By Kane White | The Metal Minds
Tariffs
With speculation that Donald Trump could impose tariffs on raw materials—including gold—traders and financial institutions are scrambling to secure their holdings in the U.S., moving an estimated 393 metric tonnes into Comex vaults in New York since November. That’s a 75% surge in inventory, pushing U.S. gold stockpiles to levels not seen since 2022.
But it’s not just fear of tariffs driving the shift. Arbitrage opportunities—where gold is trading at a higher premium in New York than in London—have incentivised traders to send bullion across the Atlantic. At one point, Comex gold futures were trading at a $60 premium over London spot prices, a rare event that signals major repositioning in the global gold market.
Some are drawing comparisons to the gold rush of 2020, when the pandemic triggered mass stockpiling as investors rushed to secure physical metal. The difference this time? It’s political uncertainty fueling the move. While Trump hasn’t officially announced tariffs on gold, his aggressive trade stance has traders playing it safe.
What does this mean for gold?
What does this mean for gold? Demand for physical bullion is surging, and as history has shown, uncertainty and government intervention only reinforce gold’s role as the ultimate hedge. With the U.S. national debt at $36 trillion and rising, inflationary pressures building, and global instability mounting, the current gold rush could be just the beginning.
In my personal opinion, the real question isn’t why gold is moving—it’s whether investors are paying attention to the writing on the wall.
This article is by precious metals experts and guest blogger The Metal Minds: Kane White
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The views expressed are based on personal opinion and should not be taken as investment recommendations.