https://newsletter.mw.creamermedia.com
Charter|Gold|supply-chain
Charter|Gold|supply-chain
charter|gold|supply chain

Charter flights now insured to ship gold to ease supply logjam - LBMA

9th April 2020

By: Reuters

  

Font size: - +

LONDON – Insurance firms have started covering charter flights to carry gold, helping to ease logjams in the bullion supply chain that caused prices to diverge sharply in different markets, the London Bullion Market Association (LBMA) said on Thursday.

Gold is usually moved between countries in the holds of passenger planes but most flights around the world have been grounded by measures to control the spread of the coronavirus.

Worries that it would be impossible to ship gold quickly from London to New York, the two biggest trading hubs, had pushed US gold futures prices far above London spot levels.

"Charter flights have now been approved by insurers in terms of shipping gold," LBMA CEO Ruth Crowell said in a conference call with market participants, calling it a "positive and significant development".

Charter flights remained expensive, however, because of increased competition, she said.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
5th November 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.271 0.35s - 127pq - 2rq
Subscribe Now