Physical Gold Hard To Find Due To Swiss Lockdown

Noah Love
on
March 25, 2020

The international supply of bullion from Switzerland has been interrupted due to high rates of coronavirus infection. Nearly 3/4 of the world's gold is refined in Switzerland, and 3 out of the 5 Swiss refineries are based in Ticino, a region alongside Italy which is sharing in some of the highest per-capita infection rates in the world. On Sunday, March 22, the regional government shut down all non-essential industries which includes the production of gold.

Many of the employees at these refineries were also Italian, so the production had been constrained in the prior weeks as flows of traffic were halted. Gold prices are not reflecting the relative decrease in supply as they fell throughout the prior weeks.

Silver & Gold