GLD continues sourcing gold at Bank of England

Investors are buying gold on an unprecedented scale this year, as a record amount of gold went to ETF’s in the first half of the year. Worldwide, these funds added a total of 734 tons of gold to their stocks in order to meet demand. Demand was so high that the Bank of England had to come to the rescue once again. Also in the second quarter, the largest gold ETF in the world appealed to the central bank in order to obtain sufficient precious metal.

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Bank of England lending gold to GLD again?

A run on gold caused tightness in the physical gold market in the first quarter of this year. Due to the coronavirus, many planes are on the ground, which makes it more difficult to get physical precious metal to the right place in time. In recent months, these logistical problems have led to longer delivery times and disrupted the pricing of gold in New York.

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