The US trade deficit has reached a record high, with January’s $329.5 billion worth of imports exceeding prior month’s total by $36 billion. A significant contributor to this surge is the rapid influx of gold shipments to New York depositories, which accounts for 60% of the increase in merchandise imports.
Source: https://www.bloomberg.com/news/articles/2025-03-06/massive-gold-influx-at-root-of-record-us-trade-gap-largely-excluded-from-gdp