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Why banks are flying gold bars on commercial flights from London to NYC

Summary by Fox Business
President Donald Trump's tariff plans have prompted some of the largest banks in the U.S. and Britain to fly gold bars from London to New York City on commercial flights.Trump's plans to impose tariffs on U.S. trading partners – including a reciprocal tariff regime that's expected to be formalized by early April and tariffs on the European Union he hasn't yet detailed – have spurred banks to relocate their gold reserves.That move has been driven…

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American Wire NewsAmerican Wire News

Banks rush to fly gold bars from Europe to New York City, via commercial airlines · American Wire News

A shrewd move from big banks had large shipments of gold moving across the Atlantic Ocean via commercial airlines. As President Donald Trump leveraged negotiations with tariffs and his newly-confirmed Commerce Secretary Howard Lutnick teased the end of the IRS, the economic shakeup had all eyes on gold. While some wondered at a return to the gold standard that had ended under President Richard Nixon, a difference in value between London, England…

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Bizpac ReviewBizpac Review

Banks rush to fly gold bars from Europe to New York City, via commercial airlines

Banks shipping gold bars from London to NYC on commercial flights to take advantage of price difference and futures market.

·West Palm Beach, United States
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Fox BusinessFox Business

Why banks are flying gold bars on commercial flights from London to NYC

President Donald Trump's tariff plans have prompted some of the largest banks in the U.S. and Britain to fly gold bars from London to New York City on commercial flights.Trump's plans to impose tariffs on U.S. trading partners – including a reciprocal tariff regime that's expected to be formalized by early April and tariffs on the European Union he hasn't yet detailed – have spurred banks to relocate their gold reserves.That move has been driven…

·United States
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Fox Business broke the news in United States on Friday, February 21, 2025.
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