Comex #gold premium to OTC gold has climbed sharply as this chart from Bloomberg shows.O

Comex #gold premium to OTC gold has climbed sharply as this chart from Bloomberg shows.

On 23/03 at 6am the EFP stood at about $6/oz. A day later, this has blown out ot more than $20/oz.

Due to shortages of investment gold and difficulties in shipping metal around. https://t.co/IILG0v5eSl

News that three large #gold Swiss refineries are halted for at least a week as this story from @peterhobson15 illustrates has played a role in this move.

https://t.co/L7cK5B85qY

But a bigger problem, speaking to the trade, is that the near-shuttering of the airline industry has made shipping #gold in all forms really hard.

As a colleague in Asia put it today:

"There are enough kilobars around: the issue is how to get it where its wanted. https://t.co/rr1LLDUNya

Certainly the sentiment towards #gold appears to have improved markedly over the past few days and the price was catalysed by the Fed's 'all-in' announcement yesterday.

Last around $1573 (spot).

Best of luck. https://t.co/9fFWgR2E0M