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102 tonnes of gold changing hands on CME's biggest ever delivery day
Traders on CME Group’s Comex exchange in New York said on Thursday they would deliver 102 tonnes of gold to holders of expiring futures contracts, in the biggest one-day delivery on record. The bumper number underlines a dramatic change on Comex since March, when the coronavirus crisis weakened links between New York, the world’s main gold futures trading venue, and London, the biggest centre for storing and trading physical bullion. The assumption that gold could be quickly shipped from London to New York to settle contracts broke down when lockdowns grounded passenger planes used to transport it and closed ... (full story)