Banks reap gold trading bonanza from Covid-19 disruption (FT)

Banks are set to report bumper profits from gold and silver trading this year following a record-breaking price rally and the disruption to global supply chains triggered by coronavirus. 

Precious metals revenues at the world’s 50 largest investment banks are set to double this year to a nine-year high of $2.5bn, concentrated among a handful of banks, according to consultancy Coalition.

Analysts say the surge in revenue stems from a sharp rise in interest among investors..