JPMorgan’s $4bn delivery of gold bullion adds to fears Trump’s tariffs will reshape global trade

US bank, world’s biggest bullion dealer, says it will deliver raw material against contracts that will expire in February

US banking giant JPMorgan plans to deliver $4bn of gold bullion weighing more than 937 tons to New York this month, before an anticipated escalation of Donald Trump’s trade-rebalancing tariff moves planned for Saturday.

The US bank, the world’s biggest bullion dealer, said it would deliver the hefty raw material, weighed as 30m troy ounces of gold, or 1.875m lbs, against contracts that will expire in February.

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