London faces gold shortage as traders rush to withdraw from Bank of England

London is experiencing a gold shortage as traders rush to retrieve gold from the Bank of England. This surge is driven by concerns that the new Trump administration may impose tariffs on imports, leading to increased demand for gold in the U.S. Waiting times to withdraw gold from the Bank of England have increased significantly, now taking up to eight weeks, compared to just a few days previously. This delay is attributed to the high volume of gold being shipped to New York. Bank of England Governor Andrew Bailey has attempted to reassure the market, stating that London remains a key gold trading hub. However, the situation reflects growing investor uncertainty regarding future U.S. trade policies.