Yesterday, Saxo Bank's head of commodity strategy, Ole Hansen, observed that a lockdown is occurring in two biggest gold hubs in the world, New York and London, so many traders are working from home. "This has caused a breakdown in the marketplace", he said.

“There is no price discovery in the market right now,” he said Tuesday morning.

Even the venerable Financial Times reports that traders have reported and lamented a growing global shortage of gold bars, as the coronavirus outbreak both disrupts supply and stokes demand, "with one business comparing the frenzied buying of the yellow metal with the consumer rush for toilet roll."

CME Urged To Change Physical Gold Delivery Rules Amid Market "Breakdown"

Gruß
JN

--
Knowledge is a deadly friend
If no one sets the rules
The fate of all mankind I see
Is in the hands of fools
King Crimson; 1969