Gold rush: London vaults emptying as traders exploit price differences

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The story "Gold rush: London vaults emptying as traders exploit price differences" was covered 1 days ago by Business Mirror, a news publisher based in Philippines.

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Gold rush: London vaults emptying as traders exploit price differences - Business Mirror

Quick Summary:

Every day in London, thousands of commuters on the Central Line take a subterranean detour around the Bank of England’s vast underground vaults, bringing them as close as they’re ever likely to get to the $500 billion of gold the bank holds on behalf of nation states, commercial banks and other financial institutions.

Tube trains come so close that staff inside sometimes report hearing a dull hum as they pass.

The first sign that traders were factoring in the risk of Trump tariffs on metals—either individually or as part of a blanket package which the president had pledged on his path to the White House—materialized at the turn of the year when futures prices for gold, silver and copper started to rocket above other international price benchmarks.