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’Gold backwardation fears revisited, uh oh!
It’s been a while since the gold bugs had a tasty scare-story to feed on.
But those frustrations can now be dispelled.
The Business Insider blog brings to our attention that net gold-lease rates are back on the rise,
Boiling oil into backwardation
As can be seen in the chart below from Stephen Schork of the Schork Report on Tuesday, the contango in the WTI Nymex crude market has weakened over the last few months quite substantially:
A weakening contango,
Getting to the bottom of negative gold-leasing rates
We drew attention to Professor Antal Fekete’s concerns over the spate of ‘ongoing’ backwardation in the the gold physical market on Monday.
The backwardation apparently has much to do with a decline in the activity of those eager to sell physical gold in the market.
Dear Paul, the greatest monetary crisis of all times is coming
Gold-bug academic extraordinaire Antal Fekete is worried about the world economy. He’s so worried in fact he’s posted an open letter to former Federal reserve chairman Paul Volcker on his website calling for imminent intervention: