"They bought gold in London, where the world's main gold market is based, in the form of 27-pound bars about the size of a large brick. The London bars weren't the right shape or purity for American exchanges, so the banks flew them to Switzerland, where four specialized refineries melted them down, refined the metal further, and recast it into the smaller, purer bars American exchanges accept."
Hundreds of millions of dollars in gold bars leave vaults in lower Manhattan and northern New Jersey each week. Most bars weigh about 2.2 pounds, matching the kilogram size preferred in Asian markets. The gold is packed in tamper-evident cases, escorted by armed guards to JFK airport, and loaded onto commercial passenger jets bound for Zurich. After refining in Switzerland, the bars are sent to buyers in China, India, and Hong Kong. The volume is large enough to appear in U.S. trade statistics, with exports exceeding $300 billion for three straight months in early 2026. Gold contributed billions to the gains, and U.S. gold exports rose nearly $50 billion across 2025 versus the prior year. The movement began in late 2024 as tariff threats raised concerns about higher U.S. gold prices, prompting major banks to import and refine gold ahead of potential tariff impacts.
#gold-exports #international-trade #banking-and-commodities #tariffs-and-market-pricing #refining-and-logistics
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