See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Numeraire Extraordinaire The price of gold went up $12 last week, and that of silver $0.50. That’s not bad for gold and silver owners, and not good for the vast majority who are all-in on the dollar (though they don’t think of it that way). Since we began publishing this Supply and Demand Report four and a half years...
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