Monetary Metals Supply and Demand Report: April 14, 2013

The Last Contango Basis Report The number one question on everyone’s mind is: what the heck happened this week? The gold price fell 5% on Friday and the silver price fell 6%. We of course look at this as the dollar getting stronger. We have long been predicting volatility as the paper monetary system goes [...]

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6 replies
  1. runeks says:

    So, looking a the past week, gold price in USD has fallen 14%! From USD 1585 on April 9/10 midnight UTC to now, at 1364 USD at April 15 19:00 UTC.

    Doesn’t anyone know why this has happened? This is really a remarkable change in price. I’ve haven’t seen anything like it for the time I’ve been following the gold price. Then again, I haven’t been following it for that long, but still.

  2. JR says:

    “we think the downside to the price is likely limited from here”

    Down another 30 odd $ overnight (Australian time). One would hope at this point gold is showing some decent backwardation?

  3. Keith Weiner says:

    Quick update: the cobasis for silver (all months) fell. The cobasis for gold (Apr and Jun) fell, but for other months rose. As of Monday morning Arizona time, June gold was not in backwardation.

    I am writing an article now on what is pushing the prices down, hopefully will publish tomorrow.

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