Gold & Silver Shoot Higher Again, As Metal Starts Getting Drained From The US

What else can we say about the latest stunning move in the precious metals markets, aside from that I think we have safely reached the point where we are now watching history being made.

Obviously the price moves have been stunning. Two days of $100 plus gold gains last week, and now another one today.

(courtesy of MarketWatch.com)

Meanwhile, silver continues to rally as well, and although it has not yet reclaimed its 2025 high of $35.49, the futures were back over the $33 level at one point this morning.

(courtesy of MarketWatch.com)

Yet perhaps even more stunning is some of the news that has begun to emerge.

Because after months of seeing gold and silver flow from London to New York, in the past few days, metal has now started to leave the COMEX.

‘The arbitrage opportunity ended when Washington earlier this month confirmed that bullion would be exempt from President Donald Trump’s tariffs.

Without an incentive to hold metal in US warehouses, that gold may now end up going to other trading hubs. Comex stockpiles fell each day last week, with Friday’s outflow the biggest in more than a year and worth about $700 million.’

And where is it going?