Gold Shipments to the U.S. Surge Amid Economic Uncertainty

Recent Gold Demand Causes Gold Prices to Spike, Increasing Gold Shipments to the US…

Gold imports to the United States have skyrocketed in recent months, particularly from Switzerland, as investors and traders react to potential tariffs proposed by former President Donald Trump. This sudden increase has caused significant shifts in global gold markets, affecting both supply chains and pricing.

According to trade data, Switzerland exported 64.2 tons of gold to the U.S. in December 2024, marking the highest monthly total in nearly two years. This represents a sharp rise from just 3.3 tons in December 2023. Market analysts attribute the surge to growing concerns that new tariffs on foreign imports could dramatically increase gold prices, prompting investors to stockpile the precious metal.

As a result, gold inventories in New York’s COMEX-approved storage facilities have surged by 73.5% over the last two months, reaching 30.4 million ounces—the highest level since mid-2022. Meanwhile, this influx has created a noticeable shortage in London, one of the world’s most important gold trading hubs, where traders are now experiencing delays of up to two months when attempting to access reserves from the Bank of England.

The demand for physical gold in New York is largely driven by speculation that tariffs could push the price of imported gold as high as $3,500 per ounce. This has fueled a rally in gold futures, with April contracts on COMEX hitting $2,853.20 per ounce.

The long-term implications of these shifts will depend on the scope and implementation of Trump’s proposed tariffs. For now, the dramatic increase in gold imports underscores how quickly global markets react to policy uncertainty, as investors seek to protect their assets in the face of potential economic disruptions.