Friday, November 20, 2009

Gold in backwardation--again

If the title of this blog entry appears redundant, it's because it is. Gold appears to be in backwardation again this Friday evening / Saturday morning, as the spot price exceeds the forward contract--only this time the premium is not a few cents, but $4. Obviously, there's a shortage of the physical inventory overseas.

Gold in Vietnam has persistently been priced at a premium above spot from $20 to as high as $60, a sure sign the black market is thriving.

No comments:

Post a Comment