The global gold price continues to be under pressure. On the COMEX exchange, the trend towards a decrease in the number of futures contracts for gold continues, but the number of requirements for its physical delivery is growing.
As of August 13, 2020, there were 36.96 million ounces in 18 COMEX warehouses, which is 550,000 ounces more than a week earlier. Of this volume, 20.8 million ounces were allocated for immediate delivery of gold, 53.647 ounces less than on August 6. June was the record month for the supply of physical gold, when 55.102 contracts were realized.
Last week, the cost of one futures contract ended at $ 1941 per ounce, and on the spot market (Forex) trading ended at $ 1944 per ounce. Compared to the previous week, the decline in gold quotations amounted to -4.5%.