Due to the recent outbreak of COVID-19 in the world, countries are strengthening measures to prevent and control the threat brought by the virus. Therefore, the supply of “physical gold” has been blocked. Gold mining, alchemical facilities, and land transportation have been temporarily closed, which affects the delivery of futures contracts traded on the COMEX.
As a result, the spread of international gold price has inevitably widened, and some international liquidity providers even stopped providing quotes for gold. In the past few days, we have been trying our best to maintain the normal operation of the trading system and the quotations and market transactions of various gold products. With the COVID-19 threat continuing, the gold market is expected to face congestion. It is believed that the wide spread of international gold price will continue.
Currently investors’ need for hedging is continually increasing. We will do our best to maintain the normal operation of the system in terms of quotation and transactions regardless of external factors. Meanwhile, we strongly recommend that you maintain sufficient margin in your account to prepare for the high market volatility.
If you have any questions, please do not hesitate to contact us. Our Client Services officers are available to guide you every step of the way.
GMO-Z.com Bullion HK Limited is committed to being your trusted trading partner – providing you with our best quality service to help you meet your trading needs anytime, anywhere.