Has anyone noticed that Dec futures closed lower than spot price on Friday night? That seems to be a pretty bearish signal.
This occurence is known as backwardation and is what happened with oil futures for most of the fall all the way down from $100.
Far from being at that point with POG but I think Friday's close is the first time I have seen it this year? Especially given December futures have a bit of time to run.
Gold price, page-7374
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