关税推动了一些加拿大人购买黄金作为避风港

征收关税的经济焦虑正在促使一些加拿大人寻求避风港来逃避风暴

People in Canada are getting increasingly worried about the economic anxiety fuelled by U.S. President Donald Trump’s threatened tariffs, and precious metal dealers say it's driving a rush to gold.

加拿大的人们越来越担心美国总统唐纳德·特朗普（Donald Trump）受到威胁的关税所加剧的经济焦虑，珍贵的金属经销商表示，它正在推动急于黄金。

Some small-scale investors are also concerned about the Canadian dollar and the risk of recession, according to the dealers, who have seen a sharp rise in demand for physical gold and silver from members of the public.

经销商称，一些小规模的投资者还关心加拿大美元和衰退的风险，他们看到对公众的实体黄金和白银的需求急剧增加。

The metal will typically flow into the country in large quantities from the Royal Canadian Mint, but one dealer said the company is now placing an unusually large number of small orders with the mint to keep up with demand.

金属通常会大量从加拿大皇家造币厂大量流入该国，但一位经销商表示，该公司现在正在下达异常的小订单，并以薄荷糖满足需求。

Canada Gold CEO Tyler Whitmore said the company, which has two Ottawa locations and 14 other stores across the country, is normally placing one major order per month for gold bars and coins from its distributors.

加拿大金牌首席执行官泰勒·惠特莫尔（Tyler Whitmore）表示，该公司通常在全国各地有两个渥太华地点和其他14家商店，通常每月为其分销商的金条和硬币订购一个主要订单。

But at the moment it's placing two orders per week, and the company is also seeing an unusual level of demand for silver.

但是目前，它每周下达两个订单，并且该公司还看到对银的需求不寻常。

“The increase in demand for physical bullion is significant across all of our stores. We typically see a surge in demand during periods of market uncertainty and turbulence,” he said.

他说：“在我们的所有商店中，对物理金条的需求的增加均大大。我们通常会在市场不确定性和动荡期间看到需求激增。”

“We saw this during the onset of the COVID-19 pandemic, but this could be the highest period of demand for physical bullion that we've seen in our 15-plus year company history.”

“我们在Covid-19的大流行病开始时看到了这一点，但这可能是我们在15多年的公司历史上看到的对身体金条的最高需求。”

He said buyers are nervous about the Canadian dollar and the risk of recession, which are both linked to U.S. economic policy.

他说，买家对加拿大美元和经济衰退的风险感到紧张，这两者都与美国的经济政策有关。

“Canadians are looking to invest in assets that typically perform well during periods of market uncertainty and turbulence, and they are turning toward physical gold and silver assets that they can actually hold in their hand,” he said.

他说：“加拿大人希望投资于市场不确定性和动荡期间通常表现良好的资产，并且他们正在转向实际上可以掌握的实物黄金和银资产。”

“With rising inflation, interest rates, and minimal wage increases, Canadians are looking for ways to preserve their purchasing power and maintain financial stability in an environment defined by economic instability.”

“随着通货膨胀率上升，利率和工资最小的提高，加拿大人正在寻找保持其购买力并在经济不稳定定义的环境中维持财务稳定的方法。”

At Sprott Money, a gold dealer in Toronto, sales of gold and silver are up about 25 per cent compared to the same time last year. The company's president, Larisa Sprott, said she has noticed “a huge change in the physical gold market” that began when Trump was elected in November.

在多伦多的一家黄金经销商的Sprott Money中，与去年同期相比，黄金和白银的销售额增长了约25％。该公司总裁Larisa Sprott说，她注意到特朗普于11月当选时始于特朗普当选时“实物黄金市场发生了巨大变化”。

“We've been seeing a lot of fear coming into the market, and typically when we see fear in the market, we see people go to safe havens,” she said.

她说：“我们一直在看到很多恐惧进入市场，通常是当我们看到市场上的恐惧时，我们看到人们去了避风港。”

“The safe haven is of course gold, and silver to a lesser extent. We're also seeing a huge increase in the gold market share in ETFs, which is another sign that people are going to safe havens.”

“避风港当然是黄金，而且银色的范围在较小程度上。我们还看到黄金市场在ETF中的份额大幅增长，这是人们将要安全避风港的另一个信号。”

It's certainly possible — and easy — to get into the gold market without buying a hunk of physical metal and stowing it away at home. Exchange-traded funds (ETFs) make up a sizeable share of the gold market, allowing customers to get in on the action with the click of a button.

当然，很容易进入黄金市场，而无需购买大块的物理金属并将其存放在家里。交易所交易的资金（ETF）在黄金市场中占据了很大的份额，使客户可以通过单击按钮进行操作。

According to the World Gold Council, gold-backed ETFs saw strong inflows last month, the highest since March 2022. Most of that surge came from North America, which recorded the strongest inflows since July 2020.

根据世界黄金委员会的数据，上个月的黄金支持的ETF的流入强劲，是2022年3月以来的最高流入。大部分激增来自北美，这是自2020年7月以来的最强流入。

But Sprott said many customers want the comfort of physically holding the metal in their hand. For some, it's the ultimate safeguard against the risk that today's instability could turn into something far, far worse.

但是斯普洛特说，许多顾客希望将金属握在手中。对于某些人来说，这是防御当今不稳定可能会变得更加糟糕的风险的最终保护。

“For some of our clients there is that concern, absolutely, that there could be some breakdown, bank account seizures. There could be some run on the banks,” she said.

她说：“对于我们的某些客户来说，绝对令人担忧，可能会出现一些细分，银行帐户癫痫发作。银行可能会有一些运行。”

“So definitely, I think something that makes our clients feel safe is: I've got it at home. It's in my safe. I don't have it in the bank. They can't take it from me.”

“因此，肯定的是，我认为让我们的客户感到安全的是：我在家中。

Anthony Herceg, managing director of precious metals distribution for North America at TD Securities, has seen a double-digit spike in transactions of precious metals over recent months. He said it started ramping up after Christmas and has affected silver, platinum and especially gold.

TD Securities北美贵金属分销董事总经理Anthony Herceg在近几个月来的贵金属交易中有两位数的高峰。他说，圣诞节后它开始升起，并影响了银，铂，尤其是黄金。

With gold prices at record highs, Herceg said customers are beginning to buy smaller quantities — fractions of an ounce instead of the standard one-ounce unit. An ounce now costs about $4,400, after surging almost 20 per cent in just three months.

赫尔塞格（Herceg）表示，随着纪录高价的黄金价格，客户开始购买较少的数量 - 一盎司而不是标准的一盎司单位。现在，一盎司的价格约为4,400美元，在短短三个月内飙升了近20％。

“They still want to invest, so they invest what they can into what they can afford,” he said.

他说：“他们仍然想投资，这样他们就可以投资了他们能负担得起的东西。”

“The interesting part about this whole situation is that it's affecting smaller investors more than large institutional investors, because they have the capacity to buy in bulk if needed, and they're not as concerned about the price fluctuations to the same degree.”

“整个情况的有趣部分是，它比大型机构投资者对较小的投资者的影响更大，因为他们有能力在需要时大量购买，而且他们并不关心价格波动的同一程度。”

Herceg said small-scale investors are largely focused on buying physical gold and silver coins and bars, while institutional investors are making large transactions of gold in kilo bars and smaller units of platinum and silver.

赫尔塞格说，小规模的投资者主要集中在购买实物黄金和银币和酒吧，而机构投资者则在千里酒吧和较小的白金和白银单元中进行大型黄金交易。

He said the small-scale investors are largely based in Canada and the U.

他说，小型投资者主要位于加拿大和美国。