CME plans launch of a new gold futures contract with expanded delivery options CME 0.24% An unusually wide spread between gold prices for Comex futures and the London bullion market this week highlighted both pricing and delivery issues tied to the shutdowns of gold operations aimed at preventing the spread of the COVID-19 pandemic. Metals...
Supply chain shutdowns caused by coronavirus have led to unprecedented disruptions in the gold market, as traders fear they cannot get hold of enough bullion to settle futures contracts traded in New York. The price of gold futures traded on Comex in New York, and expiring this month, widened to a $70-per-ounce premium above the...
By JACK FARCHY AND JUSTINA VASQUEZBLOOMBERG MARCH 24, 2020 4:36 PM The gold market in New York is facing a historic squeeze as the global pandemic chokes off physical trading routes at the same time that investors are piling into the metal as a safe haven. At issue is whether there will be enough gold available...
KEY POINTS Spot gold was down 0.5% at $1,653.25 per ounce, after rising to a one-month high of $1,671.40. The metal had risen as much as 2.8% on Monday. Holdings of the world’s largest gold-backed ETF, SPDR Gold Trust, rose 0.5% to 984.26 tonnes on Monday — its highest in over three years. Palladium was 2.3% higher at $2,203.36...
Gold soared nearly 2% to hit its highest since late 2012 on Tuesday, with investors rushing to the safety of bullion as the coronavirus ravaged economies worldwide and triggered the rollout of huge stimulus plans. Spot gold gained 0.8% at $1,727.55 per ounce, having earlier jumped as much as 1.9% to $1,746.50. U.S. gold futures...