Basic Reports

Monetary Metals Supply and Demand Report: 11 May, 2014

This was another short week, with Monday a bank holiday in the UK. Through Tuesday, the prices of the metals seemed to want to hold onto the increase that was sparked by an unemployment report. It wasn’t until Wednesday that the prices began to sag, almost but not quite to the pre-unemployment report levels again […]

Introduction to the Monetary Metals Supply and Demand Report

The Monetary Metals Supply and Demand Report is the only accurate picture of the fundamentals of the gold and silver markets. We released a video that presents some of these ideas in an engaging format. We provide a weekly letter based on data and analysis of the monetary metals: gold and silver. This article is […]

February 23, 2013

The Last Contango Basis Report The downdraft in the dollar prices of the metals began in late January, with gold just under $1700 and silver over $32. This is not likely news to readers of the Last Contango Basis Report.  Gold and Silver Price The purpose of this Report is to shed some light onto […]

Temporary Backwardation: The Path Forward from 2008

The March silver futures contract first entered backwardation on Mar 9 and with a few zigs and zags has not only remained there but has gone deeper and deeper in. The April gold future just entered backwardation today. See the graph (backwardation is when (Spot(bid) – Future(offer) > 0). We shall see what the coming […]

The Decline and Fall of Silver Backwardation

On Friday, I published an article: http://dailycapitalist.com/2012/02/17/the-arbitrageur-silver-backwardation/. I was the only one to cover the news of the end of silver backwardation. And I gave my prediction that the price of silver could correct sharply. This piece presents my analysis and theory of what happened. This will necessarily include some educated guesses, as the big […]