Gold Panic: Why the U.S. is Pulling Every Ounce Home!

Feb 6, 2025, 9:58 am GMT

Gold is flooding out of London and into New York at an unprecedented rate—400 metric tonnes since November. While some blame tariffs, the reality is far bigger.

A logistical bottleneck, arbitrage trades, and surging demand from central banks are reshaping the gold market. Lease rates are spiking, and COMEX stockpiles are soaring. Is this a temporary shift, or does it signal a global move toward gold repatriation and financial realignment?

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.