Desperate Bankers Ask Military for Help As Gold Goes Into Hiding.

#comex #gold #bullion #banks #physical #default #centralbanks

With the unprecedented moves in the gold maker this week I look at an article from the Walls Street Journal which comes some of the activity in the physical and futures mark for gold.

The bullion banks in New York and London got caught short of gold as buyers of futures contracts on Comex demanded delivery.

The Wall Street Journal reports that the scramble for physical gold was so desperate that the bankers in London asked the military for assistance in flying gold from London to New York.

My conclusion is that the tightness in the physical market should persist as investors lose faith and confidence in the monetary authorities and their reckless actions of late.

WSJ article: https://www.wsj.com/articles/coronavirus-sparks-a-global-gold-rush-11585332624

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