As previously reported, now the yellow precious metal has become a really scarce commodity. The fact is that the largest refineries in Switzerland were quarantined, almost the entire assortment ended in online stores, transport planes with gold stopped flying. It is safe to say that the global gold market is paralyzed.
Only gold from unreliable dealers or non-standard sizes remained on sale, ”said Ross Norman from Swiss bank Credit Suisse. “Any investor who wants to buy a physical gold bar or demand the supply of physical precious metals under a futures contract will have problems realizing their desire.”
The shortage of physical gold in the market worsened due to a disruption in the supply chain from the producer to the sales market. The sharp increase in demand around the world only exacerbated the already difficult situation in the precious metals market. Investors are buying up yellow precious metals amid falling stock markets, as they see it as a protective asset that allows them to save long-term depreciation savings.
A representative of the UK’s largest online store, BullionByPost, told CNN Business that gold coin sales have grown five times in recent years. “This has never happened before in a business.”