The Gold Flow to the US Creates a Shortage in London – What Does This Mean for Sweden?

A massive gold influx to the US has created a shortage in London. Speculation about tariffs and higher prices on Comex is driving the trade – but how is Sweden and our gold reserve affected?

Gold prices have hit multiple all-time highs already in January 2025. As of today, January 30, 2025, the price has reached 983,041 SEK per kilo. At the same time, we are witnessing dramatic shifts in the global gold market – what is happening?

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Massive Gold Hoarding in the US and Its Consequences

Over the past few months, we have seen a significant increase in gold shipments to the US. Traders are moving large quantities of gold to New York, which has led to a shortage in London – the world’s largest physical gold market.

This development is driven by:

• Fear of new tariffs in the US – Speculation that the Trump administration may impose tariffs on raw materials, including gold.
• Higher prices on Comex – The gold price on the New York futures exchange is higher than in London, making it profitable to move the metal across the Atlantic.
• Increased demand for physical delivery – Traders want to secure their gold by storing it in the US.

What Is Comex?

Comex (Commodity Exchange) is one of the world’s largest exchanges for trading raw materials, including gold. This is where gold futures contracts are traded, allowing investors to speculate on future prices.

Recently, we have seen large inflows of gold into Comex, increasing its stockpile by 75% and creating a supply shortage in London.

Sweden’s Gold Reserve and Its Impact

Sweden owns 125.7 tons of gold, but a significant portion of this is stored abroad. Almost half of Sweden’s gold is held at the Bank of England. Since the London market is now experiencing a supply squeeze, this could impact liquidity and trading opportunities for Sweden as well.

Read more about Sweden’s gold reserve here: Riksbank’s Gold Reserve.

What Does This Mean for You as an Investor?

Gold has historically been a safe investment in times of uncertainty. With recent price records and major gold flows to the US, now might be a good time to review your investment strategy.

At Tavex, you can easily buy gold with secure and transparent conditions.

Are you interested in investing in gold? Visit Tavex.se to check the latest prices and available stock.