Backwardation in markets like grain or oil is usually a sign of an impending price drop: i.e. take the money now, because you can't count on that it will cover the storage costs to sell it in the future.

I'm not sure how it applies to Gold, however, as it is extremely rare for any precious metal to be in backwardation. It could be a sign that more delivery is being taken, rather than simply rolling over the contracts, because of a distrust that the metal will actually be there in the future.