Big banks are flying gold from London to the US on commercial flights

The tariffs already imposed by Donald Trump, along with others that the US president has threatened to introduce, are affecting a wide range of sectors of the economy and the markets are no exception. Proof of this is that some banking giants are moving gold from the UK to the US.

Perceived by investors as a store of value, investments in gold are made all over the world, with demand increasing more sharply during periods of economic or geopolitical uncertainty, for example. The ounces of this mineral are deposited in vaults that belong, in most cases, to private banks or central banks.

Now, the protectionist policies that Donald Trump is implementing involve, to a large extent, tariffs on imports. According to many political analysts, some of these are still being used as a way to influence the decisions of governments in other countries (as happened with Mexico and Canada, which gave in on several issues before the tariffs even came into effect, so the latter were postponed).

In any case, there are other tariffs that are already a reality, such as those that amount to 25% and cover imports of iron and aluminum, applied two weeks ago. Now, this situation is generating fears that other tariffs may arise and that, in this case, they may affect gold trading, according to “Bloomberg”.

In this context, gold ounces have been trading for around 10 to 20 dollars more on the New York Stock Exchange than on the London Exchange. This creates, on the one hand, a challenge, but on the other, an opportunity for financial institutions, and some are reacting by deciding to move gold from London to New York.

Major banks are moving gold via… commercial flights

This is the case of some global banking giants, such as JP Morgan and HSBC, which hold large gold reserves in the British capital. However, since they sold contracts for gold deposited in New York, the rise in prices would force them to lose money if they invested again. As a result, some major institutions in the sector are taking part of their reserves from London to New York on commercial flights.

According to the Wall Street Journal, the option is to buy tickets for commercial flights operated by air carriers, like those that any citizen can buy for business or leisure trips. The issue is the most cost-effective way to transport the ore from London to JFK International Airport in New York.

Negotiations up sharply compared to the same period last year, particularly since the beginning of 2025

An ounce of gold is 12.8% more expensive than at the beginning of the year, while the appreciation in the last 12 months has reached 44%, mainly due to greater demand from central banks, particularly China.

In addition, the gold ounce surpassed the $2,900 mark for the first time on February 10 and continues to be in a positive mood. At this point, Goldman Sachs estimates that the gold ounce will reach $3,100 by the end of 2025.