Replies to post #22017 on ***Precious Metals Investors Club***

[Pro-Life]

#Oops!!! Gold futures prices soar over $100 on London spot confusion
Tuesday March 24, 2020 08:17

LMBO!!!

https://www.kitco.com/news/2020-03-24/Gold-futures-prices-soar-over-100-on-London-spot-confusion.html

Trading has been wild Tuesday morning amid unconfirmed reports that London spot gold price quotes have become unreliable or have been pulled as U.K. market-makers shut down due to the Covid-19 outbreak and the U.K. government ordering the country on lock-down. Apparently, big gold traders and commercials in Europe who normally base their trading decisions on the London spot price rushed to buy Comex gold futures when they could not get London what they felt were accurate London spot gold prices. One long-time gold market watcher blamed the media for examining March Comex futures, which expire soon and have very little open interest and whose price would be extra volatile amid little liquidity. Importantly, as of this writing, there was no confirmation of this matter as traders try to sort the confusion out. April gold futures were last up $101.00 an ounce at $1,668.70. May Comex silver prices were last up $0.519 at $13.775 an ounce.