The influx of gold and silver into the US, particularly since late 2024, is driven by concerns about potential tariffs, leading to a surge in demand and a shift in where these precious metals are stored, with banks and investors moving gold to New York vaults. 

Here’s a more detailed breakdown:
  • Tariff Concerns:
    The primary driver is the looming threat of tariffs on gold imports, prompting a rush to move physical gold into the US before they take effect. 

  • Shift in Storage:
    Instead of being stored in London, gold is now being moved to the Commodities Exchange Centre (COMEX) and other vaults in New York. 

  • Unprecedented Influx:
    The influx of gold is so significant that New York vaults now hold a stockpile that could satisfy US demand for the next four years, according to the World Gold Council. 

  • Silver’s Role:
    While gold is the main focus, silver is also experiencing increased demand and is seen by some as a potential “new gold” due to its industrial applications and a widening gap between supply and demand. 

  • Market Implications:
    These movements in the gold market suggest that major players are preparing for potential financial instability or a deepening economic crisis. 

  • Central Bank Activity:
    Central banks, including those in BRICS nations, are diversifying into silver, and some US states are considering gold in their reserves. 

  • Gold Price Surge:
    Gold prices have surged in 2025, with some predicting further increases, reaching new all-time highs. 

  • Silver Supply Deficit:
    Silver demand is expected to outpace supply in 2025, with the global silver market forecast to remain in a sizeable deficit.