The Wall Street Journal

Why Dealers Are Flying Gold Bars by Plane From London to New York

Tariff fears push JPMorgan and others to stash bullion on passenger planes to sell at record prices

New York’s Kennedy Airport is a trans-Atlantic destination for gold as well as passengers.
New York’s Kennedy Airport is a trans-Atlantic destination for gold as well as passengers. Photo: Jeenah Moon/Getty Images

If you landed on a flight from Europe to JFK recently, you might have been an unwitting participant in a high-stakes, high-altitude trade by gold dealers at JPMorgan Chase.

President Trump’s threatened tariffs on Europe have thrown precious-metal markets into disarray. Gold prices have been driven to record highs, and a yawning gap has opened in the value of the yellow metal in its two trading hubs, New York and London.

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