Gold bars fight Covid kits for space on the plane

Section:

By Elena Mazneva, Justina Vasquez, and Ranjeetha Pakiam
Bloomberg News
Sunday, May 3, 2020

Swiss refiner Valcambi SA tried for five straight days last month to move a shipment of gold out of Hong Kong. Twice the metal was packed carefully onto a plane, only to be offloaded again.

After daily attempts and numerous arguments, the gold suddenly arrived in Switzerland without warning, said Chief Executive Officer Michael Mesaric. "We had not even asked for a slot," he said.

... Dispatch continues below ...



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The coronavirus crisis has shone a light on a corner of precious metals markets that usually draws little attention: the logistics of transporting gold, silver, and other metals across the world. The business is dominated by companies including Brink's Co., G4S Plc, Loomis AB, and Malca-Amit, which link miners and refiners with gold trading and consumption hubs around the world. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-05-03/gold-bars-fight-covid...

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