So in one part of is exuberant podcast... I love his passion but temper his message.... he talks about a possible and similar event as happened in Oil, but inverse.
Oil for the forward contract couldn't find buyers so ended up negatively priced - a historical first where contract holders had a choice between taking delivery or paying someone to take it.
Gold, he hypothesised, or gold bug identities are, from the the below story, could meet the same fate but inversely. Instead of no buyers, there would be no sellers, which potentially will drive the price of gold skyward rapidly. Obviously this scenario is as unlikely to occur as the oil scenario, but circumstances prevail and therefor we should at least be aware of the possibility and plan ahead.
https://www.sprottmoney.com/Blog/crude-collapse-concerns-comex-craig-hemke-april-21-2020.html
$3.90 valuation by GS updated, page-395
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