Gold is flooding into America at a historic pace. Swiss gold exports to the US hit a jaw-dropping 192,933 kilograms in January 2025, the highest monthly figure since January 2012. That’s triple December’s shipments, and traders aren’t being subtle about why: they’re scared stiff about potential US tariffs.
Swiss gold is pouring into America like never before, with January 2025 shipments tripling as traders race against looming tariff threats.
The numbers are staggering. A whopping $60 billion worth of gold has made its way to American shores, with Comex warehouses bulging at the seams. Their inventories shot up 116% to 38 million ounces. Switzerland’s position as the largest bullion hub has made this massive transfer of wealth possible. Since late November, 636 metric tons of gold have been delivered to Comex-approved warehouses. Why? Because nobody wants to get caught on the wrong side of Trump’s tariff threats against Canada and Mexico. Traders aren’t taking any chances – they’re moving their precious metal faster than kids cleaning their rooms before company arrives.
The price action tells its own story. Gold smashed records in October 2024, touching $2,790 per ounce. US futures are trading at eye-popping premiums of $40-$60 over London prices. Meanwhile, central banks are gobbling up gold like it’s going out of style, with forecasts pointing to 900 metric tons of purchases in 2025. Poland wants to bump its reserves from 13% to 20%. Apparently, gold is the new black in central banking circles.
This isn’t just about tariffs, though. The US federal deficit is making investors nervous, and expected interest rate cuts in 2025 aren’t exactly calming those jitters. Add in some spicy geopolitical tensions and a potentially weaker dollar, and you’ve got a recipe for gold’s continued attractiveness.
The surge in US-bound gold has come at the expense of traditional powerhouses India and China, where deliveries have dropped. But don’t count Asia out – their growing consumer demand and cultural affinity for gold isn’t going anywhere. Japan’s even changing regulations to make gold investment more accessible through mutual funds and ETFs.
At this rate, some analysts are eyeing $3,000 per ounce for 2025. But with this much metal moving around, one thing’s certain: the gold market isn’t boring anymore.
