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[unable to retrieve full-text content]The price of gold (and silver) was on a tear in April and May. Then some sideways action. And then this week, thud. On Twitter, a popular meme is that the banks smashed the price by selling futures contracts, though there was no selling of gold bars. Let’s just say that if the price of an August contract fell by 0, while the price of a gold bar held steady, there would be a backwardation of around 40%!
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Keith Weiner considers the following as important: 6a) Gold & Monetary Metals, 6a.) Monetary Metals, Basic Reports, Featured, newsletter
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[unable to retrieve full-text content][unable to retrieve full-text content]The price of gold (and silver) was on a tear in April and May. Then some sideways action. And then this week, thud. On Twitter, a popular meme is that the banks smashed the price by selling futures contracts, though there was no selling of gold bars. Let’s just say that if the price of an August contract fell by 0, while the price of a gold bar held steady, there would be a backwardation of around 40%!
Topics:
Keith Weiner considers the following as important: 6a) Gold & Monetary Metals, 6a.) Monetary Metals, Basic Reports, Featured, newsletter
This could be interesting, too:
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The price of gold (and silver) was on a tear in April and May. Then some sideways action. And then this week, thud. On Twitter, a popular meme is that the banks smashed the price by selling futures contracts, though there was no selling of gold bars. Let’s just say that if the price of an August contract fell by $120, while the price of a gold bar held steady, there would be a backwardation of around 40%!