President Donald Trump’s tariff plans have prompted some of the largest banks in the U.S. and Britain to fly gold bars from London to New York City on commercial flights.
Trump’s plans to impose tariffs on U.S. trading partners – including a reciprocal tariff regime that’s expected to be formalized by early April and tariffs on the European Union he hasn’t yet detailed – have spurred banks to relocate their gold reserves.
That move has been driven by a price differential between gold sold in London and New York – The Wall Street Journal reported last week that the prices of gold per troy ounce have been roughly $20 lower in London since early December. London is the main trading location for the physical gold market, while New York is a hub for futures contracts.
Due to the disparity, moving the gold from London to New York can help banks cover what would otherwise have been money-losing trades on gold futures by flying the gold across the Atlantic, allowing them to at least pare their losses or make more money by locking in new futures contracts.
JPMorgan Chase and HSBC are two major players in the market for physical gold and have looked to capitalize on the opportunity, the Journal reported. […]
— Read More: www.foxbusiness.com
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
