MM GOFO™ is quoted daily on company website
LONDON, June 23, 2017—Monetary Metals announces that it is now publishing the gold forward rate (GOFO), calculated using public market data. The MM GOFO™ has better than 0.99 correlation to the historical GOFO published by the London Bullion Market Association (LBMA). The company also publishes the silver forward rate, MM SIFO™.
The forward rate is important to gold mining, refining, jewelry, mint, and industrial manufacturing companies, because their financing and hedging transactions depend on it. However, the LBMA stopped publishing GOFO in January 2015, and SIFO in in November 2012.
Keith Weiner, CEO of Monetary Metals, said “we are providing the daily forward and lease rates, as a service to the industry.”
“A forward rate benchmark helps the market. Keith and his group have done a thorough and representative job,” said Jeffrey Christian, Managing Director of CPM Group.
Monetary Metals is showing, for the first time, bid and offer on the forward rates and lease rates. The company has back-tested its data series back to 1996 for gold and 1999 for silver (when SIFO was first published).
About Monetary Metals
Monetary Metals is unlocking the productivity of gold™ by offering a yield on gold, paid in gold® to investors, and Gold Financing, Simplified™ to gold-using businesses. The company also manages the Gold Exponential Fund™. Monetary Metals publishes groundbreaking research to help investors understand the emerging role of gold as the ultimate measure of wealth, including the Gold Forward Rate.