Hong Kong Gold Exchange Runs Out of Spot Gold

April 19th, 2013 by


China Daily is reporting that the Hong Kong gold exchange has run completely out of gold:

The Chinese Gold & Silver Exchange Society in Hong Kong said on Friday that it had sold all of its spot gold and has placed orders to Switzerland four times bigger than normal to satisfy mounting demand.

This is just the latest news to result from the global gold frenzy set off by the collapse of gold futures trading. Suppliers world wide are scrambling to meet the sudden intense demand from gold distributors and the public.