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Steep Gold Contango - Is It Different This Time? The previous two times that the one-year gold futures curve was in similar steep contango as now, US…
Mike McGlone
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"Steep Gold Contango - Is It Different This Time?
The previous two times that the one-year gold futures curve was in similar steep contango as now, US recessions and sharp rallies in the metal followed with implications for 2024. My chart shows the one-year-back gold futures price about 6% above the front and for good reason – high US interest rates."