Gold has risen well over the last trading session but volume of trades shown on goldprice.com suggest trading has nearly stopped. Thoughts?
Everybody is waiting to see what will break first, the paper market or physical market. It looks like physical is getting scarce on the street, I was only able to find 1oz cast bars at a jeweller that doesn't really deal in bullion. Can't find them elsewhere.
Multiple global refiners are now shutdown, physical is going to get vary tight supply wise & the paper market looks like a bad smelly joke to me.
It would be great to see a shake out of the paper market but such a substantial drop in volume is disconcerting. It could lead to a flash crash if sellers dump with few buyers. Personally I expect another price drop when people realise this event is far from over.