Historic Gold Squeeze Shows Signs of Easing as Investors Exit
- Some short sellers appeared to exit the market for now
- Prices extended gains amid continued stimulus expectations
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Fears over the historic squeeze in the gold market showed signs of easing after some short sellers appeared to exit and investors rolled forward contracts.
The bullion market was thrown into turmoil this week as logistical disruptions caused by the coronavirus pandemic led to a divergence of prices in New York and London and curbed supply. One issue was whether there would be enough gold in New York to deliver against futures contracts traded on the Comex.