Gold In Backwardation As Very Strong Physical Demand In London Continues

The gold market is in backwardation as very strong physical demand in London continues.

March 13 (King World News) – Eric King:  “James, what are you hearing about the physical gold and silver markets? KWN published a piece from Alasdair Macleod where he indicated it appeared to be tight in the physical market, and the paper prices and the physical prices had diverged, again.”

Very Strong Demand For Physical Metal
James Turk out of London:  “Yes, they have. I follow both the spot market and the futures market, and a few days ago when gold was really oversold, the spot price was $3 over the April futures contract. Even today it’s still $2 over the April futures contract (backwardation), which is really surprising because the April contract goes off the board in a couple of weeks. So you’ve got very strong demand for physical metal. 

Silver Shorts Getting Nervous
Silver is also very, very tight and you can see it by the way it’s trading. They couldn’t push the price lower than what they already achieved last weekend. And the fact that the metals are climbing and they are continuing to climb after the Comex close (on Friday), you can see the shorts are getting nervous…to continue listening to James Turk discuss exactly what price targets to look for if the gold and silver markets have bottomed CLICK HERE OR ON THE IMAGE BELOW.

To listen to Alasdair Macleod discuss the action in the gold, silver and mining share markets and what to expect next CLICK HERE OR ON THE IMAGE BELOW.

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