Gold in demand as US investment banks reportedly look to hedge Trump tariff risk

JPMorgan Chase will deliver over $4 billion worth of gold bullion in New York this February, as rising prices and potential import tariffs drive a rush to ship precious metals to the US, according to Bloomberg. The bank, the largest bullion dealer globally, is among several institutions set to fulfil gold futures contracts on the CME Group’s Comex exchange. Delivery notices for February contracts total 3 million troy ounces, the second-largest amount recorded since 1994. An additional 1.1 million ounces is scheduled for delivery next week. the US financial news network said. Gold futures on Comex have surged above London spot prices, creating a profitable opportunity for banks that can quickly transport bullion. The price gap has also led to silver being flown into the US, an unusual move due to its lower value. JPMorgan’s delivery of 1.485 million ounces accounts for nearly half the total, with Deutsche Bank, Morgan Stanley, and Goldman Sachs covering the rest.

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