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Gold Markets Are Being Haunted by Signs of Dislocation Again

  • New York gold futures turn $50 costlier than prices in London
  • Traders stunned by recent turmoil are staying on the sidelines
Gold Bar Casting At Valcambi SA Precious Metals Refinery
Photographer: Stefan Wermuth/Bloomberg
Updated on

Gold prices that usually move in lockstep are diverging again, reviving fears of impending turmoil just a couple of weeks after the last bout of panic.

An ounce of bullion sold in New York was as much as $50 more expensive than in London Tuesday, compared with just a few dollars in normal times. The price spread is seen as a measure of the cost to swap futures contracts into gold in its physical form.