March ructions deter bullion banks from gold futures

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Published : May 29th, 2020
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Financial Times/Henry Sanderson/5-27-2020

“Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.”

USAGOLD note:  An interesting look at what happened back in March when COVID-19 disrupted the flow of bullion in the gold market and affected settlement on the COMEX. Some bullion banks were caught short forcing them to take a major mark to market loss when premiums bolted higher. Delivery first notice day, by the way, was yesterday (5/28/2020), so we will see in time whether or not a similar event to March is in progress on the June contract.

Read the rest of the article at USA Gold
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