My Candid View – Part 2
I have seen a LOT of comments on negative GOFO rates (“backwardation”) in the last week or two. I believe you once referred to this as a “paper gold” event, and so not as dramatic a deal as Fekete wrote about several years ago.
But, this negative GOFO has persisted and it goes all the way out to Feb 2014… Are there any signals that we should be aware of? And can you please remind me