Gold & Silver Are Flooding Into US Warehouses

Authored by Simon White, Bloomberg macro strategist,

Gold and silver are flooding into US warehouses at a rate not seen since the pandemic. Years of emerging-market central-bank hoarding have likely created a shortage of physical metal in the West. But another, less probable theory is that the US is preparing to revalue its gold reserves.

You’re never far away from conspiracy in the gold market. But not all conspiracies are false, and in markets one needs to keep an open mind to stay solvent. The recent influx of gold and silver into Comex warehouses in the US has led to speculation the US is on the verge of revaluing its reputed considerable stock of gold, valued at $42 an ounce, to the market price — currently approaching $3,000. It’s a theory that can’t be completely discounted with disruptor-in-chief Donald Trump in charge.