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With lockdowns returning to in Europe, worries climb that London, a major vaulting center, will certainly face logistical challenges in carrying and also servicing gold and silver bullion, similar to what took place in March that led to scarcities of the physical rare-earth elements markets.
Ruth Crowell, chief executive of the London Bullion Market Organization (LBMA), claimed that vaults and also company are a lot more ready this moment around.
" This is something we talk about in terms of prospective market disruptions, as well as part of our duty in regards to being that point of get in touch with for the framework service providers below in London is talking to the safes and also the carriers regarding just how are you all set … for COVID obstacles as well as Brexit obstacles. I assume the frustrating reaction is that they're very ready," Crowell said. "And also somehow having had the challenges of the pandemic in March as well as April has actually made the marketplace much more durable to those obstacles up ahead."
0:00 – LBMA's goal
1:30 – Logistical difficulties
7:01 – Brexit impact on markets
10:05 – Gold market overview
12:40 – LBMA standards
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Will gold, silver bullion see severe shortages again? LBMA's Ruth Crowell
With lockdowns resuming in Europe, concerns rise that London, a major vaulting center, will face logistical challenges in transporting and servicing gold and silver bullion, similar to what happened in March that led to shortages of the physical precious metals markets.
Ruth Crowell, chief executive of the London Bullion Market Association (LBMA), said that vaults and service providers are more prepared this time around.
“This is something we talk about in terms of potential market disruptions, and part of our role in terms of being that point of contact for the infrastructure providers here in London is talking to the vaults and the carriers about how are you ready…for COVID challenges as well as Brexit challenges. I think the overwhelming response is that they’re very prepared,” Crowell said. “And in some ways having had the challenges of the pandemic in March and April has made the market more resilient to those challenges up ahead.”
0:00 - LBMA's mission
1:30 - Logistical challenges
7:01 - Brexit impact on markets
10:05 - Gold market outlook
12:40 - LBMA standards
__________________________________________________________________
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