When a Hot Gold Trade Blew Up, the Rush for 100-Ounce Bars Began

From bnnbloomberg.ca

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. Not only are prices swinging in an erratic fashion -- surging one moment and crashing the next -- that is undermining the metal’s vaunted status as a haven in times of crisis, but unprecedented logistical disruptions have also kicked off a frantic hunt for actual bars of gold. At the center of it all are a small band of traders who for years had cashed in on what had always been a sure-fire bet: shorting gold in the futures market. Usually, they’d ride the trade ... (full story)