“There’s No Gold” – COMEX Report Exposes Conditions Behind Physical Crunch

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“There’s No Gold” – COMEX Report Exposes Conditions Behind Physical Crunch

This article originally appeared on Zerohedge.com

While the demand for gold has been soaring as a safe haven asset amid the multiple global crises we are currently facing, forced paper gold liquidation (as leveraged funds scramble to cover margin calls) and unprecedented logistical disruptions created a frantic hunt for actual bars of gold.

Specifically, as Bloomberg details, at the center of it all are a small band of traders who for years had cashed in on what had always been a sure-fire bet: shorting gold futures in New York against being long physical gold in London. Usually, they’d ride the trade out till the end of the contract when they’d have a couple of options to get out without marking much, if any, loss.

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By | 2020-05-08T19:37:41-06:00 April 1st, 2020|Buy Gold, Buy Silver|Comments Off on “There’s No Gold” – COMEX Report Exposes Conditions Behind Physical Crunch

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