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Silver backwardation.
posted on
Mar 06, 2009 11:12AM
The price of silver has been in so-called “backwardation” for several days now.That means that the price for immediate delivery has been consistently higher than the price for future delivery.In contrast, although the spreads have gotten very tight, in the gold market, we are no longer seeing overt backwardation.The last time we saw it, gold was selling in the mid $800s per ounce.Shortly afterward, the price soared to $1,000.
