U.S. exchange operator CME Group on Tuesday announced a new gold futures contract to combat price volatility caused by the shutdown of gold supply routes, but traders and bankers said it would not immediately calm markets. Gold prices in London and New York diverged sharply on Tuesday as the coronavirus outbreak grounded planes and closed precious metals refineries. Traders worried they would be unable to move gold from London to New York. The price gap disrupted trading in the London market and caused a plunge in liquidity. Major gold trading banks and the London Bullion Market Association asked the CME to change ... (full story)