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A Scramble for Gold?
What? Is not the dollar as good as gold? Oh wait,a Democrat fixed that in 1933.Just like they are going to fix it again in 2021.
serf
https://www.wsj.com/articles/a-scramble-for-gold-is-redrawing-the-map-of-the-market-11591867007
New York faces a gold rush after the pandemic threw precious-metal markets into disarray, setting off a scramble by traders to cut their losses.
Bullion vaults approved by the Comex division of the New York Mercantile Exchange house a record 29.7 million troy ounces, according to FactSet data back to 2013. Almost three quarters of that gold—weighing as much as nine, fully loaded Boeing 737-700 airplanes—has arrived in the past three months.
The displacement was set off by dysfunction in the market in March and early April, caused by fears of a breakdown in ordinarily frictionless gold supply chains. It has reversed the normal flow of bullion from west to east, redrawing the map of the international gold market.
Comments
Neither of which is worth its weight in gold.
Brad Steele