Even if gold and silver from Mexico and Canada are tariffed by trump, there remains uncertainty as to how much impact this would actually have on the price of the metals produced by those two countries, since they will probably undergo several changes of hands before any eventual entry into the U.S.
But there seems to be confirmation from multiple sources that the LBMA is running low on gold, due to high volumes recently imported into the U.S., on top of demand by central banks. As a result of this, gold and silver should be on a lot more radars than they were a couple of weeks ago. And the tariff slinging matches may add to heightened awareness of the demand for gold by "sophisticated players". This could help translate into increased western retail demand.
Here's a little reminder of who produces lots of gold. If you combine Canada's and Mexico's production, they would be in 4th place, not far below Australia.
And of course Mexico is the world's largest silver producer at approximately 25%
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