Plenty of Physical #Gold…it’s just sitting in 'wrong location' and in 'wrong form' — @Scotiabank

There is no shortage of gold out there, but there are some serious "physical bottlenecks" for certain gold products that are just sitting in wrong locations, Scotiabank said in its latest update. 

"If there were a major shortage of physical gold, spot gold prices would be trading at a premium to futures prices, which is not the case," Scotiabank commodity strategist Nicky Shiels said on Friday.  

See the whole story on Kitco here: https://www.kitco.com/news/2020-03-30/Plenty-of-gold-sitting-in-wrong-location-and-in-wrong-form-Scotiabank.html

bit.ly/MasterMetals

#Gold Faces Historic Squeeze With #CoronaVirus Threatening NY #Comex Shortage

The virus has upended the global supply chain for precious metals. Metals refiners in Europe are being forced shut. Ordinarily, banks and traders would ship supplies from other locations to New York in response to such a large Comex premium over the spot London market. But because of the outbreak, some have been reluctant to take advantage of the arbitrage out of fear that flights and truck deliveries will be canceled and trap their supplies ...

Gold Faces Historic Squeeze With Virus Threatening N.Y. Shortage

 
https://www.bloomberg.com/news/articles/2020-03-24/scramble-for-gold-sends-new-york-premium-to-a-four-decade-high

#Gold has given back most of 2020's gains, still much better than the $SPX...

#Gold had a rough day along with the rest of the market.

That's still better than the S&P which HAS LOST TWO AND A HALF YEARS' WORTH OF GAINS IN LESS THAN ONE MONTH!!