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I note the following:
1. Gold lease rates rising;
2. Gold lease rates converging;
3. Gold lease rates are inverting (short term higher than longer terms);
http://www.financialsense.com/fsu/editorials/2006/0119.html
From Kitco:
1 m 1.4017% +0.1400
2 m 1.4896% +0.1666
3 m 1.6671% +0.2263
6 m 1.4980% +0.1872
1 y 1.5292% +0.1150
Does anyone have some good articles on gold lease rates and what they mean in the current environment? They seem to indicate an extreme shortage of physical gold and large short term paper bets being made.
Any ideas?