The Journal. Why Gold Bars Are Flying Over the Atlantic
71 snips
Feb 26, 2025 
Joe Wallace, a Wall Street Journal reporter, dives into the intriguing world of gold trading. He explains the surprising phenomenon of gold bars being flown commercially from London to New York. Wallace discusses the historical significance of London in the gold market and how recent market fluctuations are creating challenges for traders. The conversation also reveals the complexities of retrieving gold from the Bank of England, alongside strategic trading opportunities arising from price discrepancies across the Atlantic.
AI Snips
Chapters
Transcript
Episode notes
Gold in the Sky
- Planes flying from Europe to New York are carrying tons of gold bars in their cargo holds.
- Passengers are unaware of this high-stakes trade.
Who Buys Gold?
- Central banks buy gold to support their currencies, while commercial companies like jewelry businesses use it for production.
- Wealthy individuals and banks also participate in the gold market.
Gold Hubs
- The gold market's two main hubs are London, with its historic vaults beneath the city, and New York, known for its active gold futures market.
- Large financial institutions facilitate trades between these two locations.