via Gold-Eagle.com - Antal Fekete

Mr. Fekete restates his gold backwardation theory, that the rise of lease rates results in a gold price backwardation along the futures chain.

This can only be possible in a negative nominal rates scenario, and Swiss rates have gone negative again.

We saw gold prices well supported in a negative nominal rates scenario. Will Japan finally overcome their culturul hurdle of not allowing negative nominal rates to occur in their country?

http://www.gold-eagle.com/editorials_12/fekete012913.html

-F6