Bank of England: Gold Withdrawals Facing 4-8 Week Delays | Arcadia Economics

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Summary

➡ Arcadia Economics talks about how Traders are gathering a huge $82 billion worth of stock in New York due to worries about tariffs from the Trump administration. This has caused a delay in withdrawing gold stored in the Bank of England’s vaults, increasing from a few days to between four and eight weeks. This situation has led to a decrease in available gold in London and an increase in New York, causing stress in the market. However, it’s not expected to cause a sudden spike in silver prices.

 

Transcript

From the Financial Times, as traders amass an 82 billion dollar stockpile in New York over fears of Trump administration tariffs, the wait to withdraw bullion stored in the bank of England’s vaults has risen from a few days to between four and eight weeks. Well hello there my friends, Chris Marcus here with you for Arcadia Economics and a quick update. I’d didn’t have this in there yet but just wanted to pass this along and make sure you saw it because Financial Times had an article today, obviously you’ve heard plenty about the EFP situation and what’s going on in terms of gold and silver in London versus New York and a lot of metal coming to New York.

Now we hear from the Financial Times as traders amass an 82 billion dollar stockpile in New York over fears of Trump administration tariffs, the wait to withdraw bullion stored in the bank of England’s vaults has risen from a few days to between four and eight weeks. So now obviously there is more metal in New York right now after all the metal that has gone over there but obviously with London being the spot market to see that they’re experiencing those conditions, certainly interesting. Does that mean that silver is going to shoot up to four thousand dollars an ounce tomorrow? Probably not but again there is stress in the market and the article also mentioned the wait to withdraw bullion stored in the vaults has risen to four to eight weeks.

As the central bank struggles to keep up with demand people can’t get their hands on gold because so much has been shipped to New York and the rest is stuck in the queue. Said an industry executive liquidity in London market has been diminished and as I mentioned in today’s one o’clock video you also do have this happening on the silver side in the face of a deficit where there are already concerns of are we headed towards a supply issue. So I would say I don’t know if you would say this isn’t helping I mean I guess if you’re long metals and hoping for some undressing of the paper leverage system similar to what closest came to breaking in 2021 and also how likely he thinks that it is to break at some point in the future so certainly this is a worthwhile sign as things have obviously gotten quite volatile and we’re still only a week and a half into Trump’s term will be interesting when we finally get clarity on all the policies and so anyway I just wanted to pass that along again I hope you’re having a great day out there enjoying the Fed meeting the who that that is and either case if you did want to see that interview with Rick Rule that I just mentioned I’m a little biased here but I personally think that’s something any silver investor in particular gold too but if you’re invested in silver that you probably want to hear what he shared there so with that said here it is
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