Covid-19: Swiss Gold and Silver refiners closed!
Ticino authorities have ordered businesses on lockdown from Monday March 23 till March 31. This is likely to be extended in line with other measures until April 19 at the earliest.
At least this is what we hear from different sources in Switzerland today.
Ticino is one of the harder hit Corona virus Cantons being right on the Italian border, which has already been closed for entry into Switzerland. Switzerland is under extreme pressure as the virus appears to be on a roll.
What does it mean?
- Well first of all that probably no physical Gold and Silver can be delivered for any purpose.
- Secondly that Mining stocks start to increase in value.
- Hedge funds may be tempted to test Comex on physical delivery
This could lead to extreme price volatility in northerly direction.
We need to wait and see what happens the coming week.