Comex #gold premium to OTC gold has climbed sharply as this chart from Bloomberg shows.
On 23/03 at 6am the EFP stood at about $6/oz. A day later, this has blown out ot more than $20/oz.
Due to shortages of investment gold and difficulties in shipping metal around.
On 23/03 at 6am the EFP stood at about $6/oz. A day later, this has blown out ot more than $20/oz.
Due to shortages of investment gold and difficulties in shipping metal around.
News that three large #gold Swiss refineries are halted for at least a week as this story from @peterhobson15 illustrates has played a role in this move.
reuters.com/article/precio…
reuters.com/article/precio…
But a bigger problem, speaking to the trade, is that the near-shuttering of the airline industry has made shipping #gold in all forms really hard.
As a colleague in Asia put it today:
"There are enough kilobars around: the issue is how to get it where its wanted.
As a colleague in Asia put it today:
"There are enough kilobars around: the issue is how to get it where its wanted.
Certainly the sentiment towards #gold appears to have improved markedly over the past few days and the price was catalysed by the Fed's 'all-in' announcement yesterday.
Last around $1573 (spot).
Best of luck.
Last around $1573 (spot).
Best of luck.
@threadreaderapp please unroll.
