Coronavirus pushes London banks to consider additional gold storage sites
By GCRU Gold News on Sunday, March 29 2020, 02:31 - Permalink
The five banks that clear gold trades in the London market are considering expanding their network of storage locations to other countries if it becomes impossible to fly enough gold in and out of London, said two sources involved in the discussions.
The move would be aimed at reducing the risk of disruption if metal cannot reach London, the world’s most important physical gold trading hub, where trades are underpinned by metal held in high-security vaults.