Physical supply is just getting crushed, everyone wants it but supply is dropping rapidly.
https://www.zerohedge.com/news/2020-03-24/gold-bullion-shortage-worsens-45-year-high
Huge lockdown news again for the physical silver and gold market hit yesterday, as anywhere from 1/3rd to over 1/2 of the world’s entire yearly physical gold supply, is now on pandemic lockdown.
This morning we woke up to see that this worsening physical gold bullion shortage situation forced COMEX futures prices violently upwards, touching near $1,700 oz this morning.The ‘over the counter’ gold spot price and COMEX gold futures contract prices blew out to 45-year record high divergences. -It appears traders have begun selling spot gold to escape to Comex futures front-month derivative contracts.
$3.90 valuation by GS updated, page-318
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