I highly doubt the rare coiners and Costco bars can move a market this big. This is also not a US-only thing; it's happening worldwide.
> but the big buyers out there don’t actually want or need all this expensive physical gold. The price spike isn’t because all of a sudden there’s increased demand for physical gold - it’s just a financial instrument at this point that happens to have a physical counterpart.
> but the big buyers out there don’t actually want or need all this expensive physical gold. The price spike isn’t because all of a sudden there’s increased demand for physical gold - it’s just a financial instrument at this point that happens to have a physical counterpart.
The reason is well understood: Central banks around the world are increasing their supply of Gold. In particular, the one in China: https://tradingeconomics.com/china/gold-reserves
And no, big buyers expect deliveries: https://www.ft.com/content/86a5fafd-603e-4ee1-9620-39b5f4465...