Daily Dispatches

Coronavirus pushes London banks to consider additional gold storage sites

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By Peter Hobson
Reuters
Friday, March 27, 2020

LONDON -- The five banks that clear gold trades in the London market are considering expanding their network of storage locations to other countries if it becomes impossible to fly enough gold in and out of London, two sources involved in the discussions say.

John Kim: Comex issues and stops reports expose Comex physical gold supply problems

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By John Kim
Friday, March 28, 2020

Right now, the latest Comex issues and stops reports expose Comex physical gold supply problems. Though I have written about the various reasons why physical gold supply problems manifest many times in the past, this topic still remains one rarely discussed by financial journalists, and never discussed by the mass financial media.

The wild hunt for 100-ounce gold bars

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By Joe Deaux and Yvonne Yue Li
Bloomberg News
Saturday, March 28, 2020

https://www.bloomberg.com/news/articles/2020-03-28/when-a-hot-gold-trade...

There are few corners of the global financial market that have been upended as spectacularly, or as oddly, by the coronavirus pandemic as gold trading.

Gold traders are paid not to redeem Comex EFPs, London sources say

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12:08p ET Friday, March 27, 2020

Dear Friend of GATA and Gold:

What the heck are those mysterious "exchange for physicals," the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?

Miners are back, so follow them with The Calandra Report and help GATA

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10:54p ET Thursday, March 25, 2020

Dear Friend of GATA and Gold:

Now that the monetary metals industry is suddenly back in business after a couple of weeks in which the metals were smashed in the futures markets to prepare the way for distribution of infinite money, financial letter writer Thom Calandra is renewing his generous offer to GATA supporters.

'There is no gold' -- Bullion dealers sell out in panic buying

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By Brett Arends
MarketWatch.com, New York
Wednesday, March 25, 2020

https://www.marketwatch.com/story/there-is-no-gold-bullion-dealers-sell-...

If you think gold has jumped about 10 percent in a couple of days to $1,638 an ounce, the official price quoted on Wall Street, think again.

The real price? Nearer $1,800 -- if you can get it.

Coronavirus shutdowns cause glitches in gold market

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By Henry Sanderson
Financial Times, London
Thursday, March 26, 2020

https://www.ft.com/content/29246920-6e9c-11ea-89df-41bea055720b

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.

Distressed debt hits almost $1 trillion, nears 2008 peak

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By Katherine Doherty
Bloomberg News
Wednesday, March 25, 2020

The amount of distressed debt in the United States has quadrupled in less than a week to nearly $1 trillion, reaching levels not seen since 2008 as the collapse of oil prices and fallout from the coronavirus shutters entire industries across the globe.

Gold market snarled by virus lockdown as world races for haven

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By Jack Farchy and Justina Vasquez
Bloomberg News
Wednesday, March 25, 2020

The gold market is creaking, in the latest sign of how the coronavirus pandemic is causing chaos across financial markets.

Miners are back, so follow them with The Calandra Report and help GATA

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12:40p ET Wednesday, March 25, 2020

Dear Friend of GATA and Gold:

Now that the monetary metals industry is suddenly back in business after a couple of weeks in which the metals were smashed in the futures markets to prepare the way for distribution of infinite money, financial letter writer Thom Calandra is renewing his generous offer to GATA supporters.

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