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Here's why 100-ounce gold bar is attracting buyers despite volatile price

Not only are prices swinging in an erratic fashion - surging one moment and crashing the next - that is undermining the metal's vaunted status as a haven in times of crisis

gold, jewellery
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Futures contracts in New York are based on 100-ounce bullion bars. The gold that’s rushed in from abroad is almost always a different size.

Joe Deaux , Yvonne Yue Li & Jack Farchy | Bloomberg
There are few corners of the global financial market that have been upended as spectacularly, or as oddly, by the coronavirus pandemic as gold trading.
 
Not only are prices swinging in an erratic fashion — surging one moment and crashing the next — that is undermining the metal’s vaunted status as a haven in times of crisis, but unprecedented logistical disruptions have also kicked off a frantic hunt for actual bars of gold.
 
At the centre of it all are a small band of traders who for years had cashed in on what had always been a sure-fire bet: shorting