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The Wild Hunt for 100-Ounce Gold Bars

  • Coronavirus crisis disrupted supply chain for physical metal
  • Crunch rocked futures traders who suddenly needed gold in hand
Gold Bars and Coins At A Tanaka Kikinzoku Store
Photographer: Akio Kon/Bloomberg
Updated on

There are few corners of the global financial market that have been upended as spectacularly, or as oddly, by the coronavirus pandemic as gold trading.

Not only are prices swinging in an erratic fashion -- surging one moment and crashing the next -- that is undermining the metal’s vaunted status as a haven in times of crisis, but unprecedented logistical disruptions have also kicked off a frantic hunt for actual bars of gold.