JPMorgan Chase & Co. will deliver gold bullion valued at more than US$4 billion ($5.43 billion) against futures contracts in New York in February, at a time when surging prices and the threat of import tariffs are fueling a worldwide dash to ship metal to the US.
The bank, which is by far the world’s biggest bullion dealer, was one of several institutions to declare plans on Thursday to deliver bullion against contracts traded on CME Group’s Comex that will expire in February. The delivery notices — which total 3 million troy ounces of gold — were the second largest ever in bourse data going back to 1994.
