- Yeah. Good morning. Just pocket change.Singles. My name is Ben Tseytlin, I'm the owner of Bullion Exchanges. The past, like three months has been extremely busy.Gold has skyrocketed. All the metals are trending higher. You got a grand total of $9,723.59%.I need your ID - - [Customer] Sure - and we'll get you a check issued shortly. - [Customer] Okay. Thank you.- There's a huge influx of people in the 65 plus range, trying to sell their scrap jewelry. They've been sitting on this stuff for a long time. It' ...

Market Trends & Dynamics - Unprecedented demand for precious metals, including gold, from new clients like large corporations and family offices [2] - Significant price dislocations between key trading hubs have created lucrative arbitrage opportunities [3] - Fears of U S tariffs on silver, platinum, and palladium persist in the market [3] - Spot gold trading in London has increased more than threefold since 2021, averaging nearly $600 billion per week recently [6] Talent & Compensation - Banks have underinvested in their gold trading teams, resulting in a shallow talent pool [5] - Physical trading houses and hedge funds are actively poaching gold traders [8] - Bonuses at physical trading houses can be 2 to 3 times higher than those at banks, leading to high turnover [10] - Traders with expertise in macro forces and the practicalities of physical metal movement are highly sought after [7] Key Players - JP Morgan and HSBC are historically dominant banks in gold trading [5] - Physical trading houses and hedge funds are increasingly active in exploiting arbitrage opportunities [4]

Trump's tariffs have stunned the gold market. That's because the US Customs and Border Protection made clear that imports of one kilo and 100 ounce gold bars are now subject to tariffs. A major shock to the industry, which is used to those bars being exempt.Gold industry executives, analysts and traders are now all scrambling to understand what this US policy means for them, which is resulting in shipments being frozen and lots of price action. Gold futures, which are backed by those bars of gold, rose to a ...

Market Impact of Tariffs - The Trump administration's plan to impose tariffs on gold bars has led to all-time high gold prices [1] - The tariffs may create price differentiation between gold markets in New York, London, and Shanghai, potentially leading to arbitrage opportunities [3][4] - The gold industry was surprised by the tariffs, as gold has not been subject to tariffs in recent times [5] - The tariffs initially appear to apply to refined gold from Switzerland, which could increase the cost of gold bars sold in the United States [6] Wheaton Precious Metals' Position - Wheaton Precious Metals is insulated from the impact of the gold tariffs because it sells on the international market [2] - The company is exploring potential pricing arbitrage opportunities arising from the tariffs [4][5] - Wheaton's US operating assets in silver and palladium are not expected to be affected by the tariffs because the product is produced and refined in the United States [10][11] - The company sees the tariffs as an opportunity to take advantage of higher pricing in the US market [12] Gold Market Trends - Gold prices have been climbing for years, with persistent strength and short-term fluctuations [8][9] - Gold is considered a "comfort metal" and is attractive in chaotic times [9]

The idea is that a lot of traders here in the US thought that these tariffs on Swiss goods wouldn't be applied to gold because you need to trade uh 400 ounce bars for central banks, 100 ounce bars for uh the comx and kilo bars in Asia. Um apparently there are going to be tariffs on those uh gold bars. >> Exactly.That's what they thought. um they had plans uh and then they got a letter. I have the letter here.So basically maybe just one step back, Switzerland has a big trading surplus with the United States. ...