Market Curiosity: Exploring Markets And Systems

December 13, 2008

Silver In Backwardation?

Filed under: Just Watching — Tags: , , — Jeff Fitzmyers @ 5:23 am

UPDATE Jan 22: The original was correct.

UPDATE: I think I have “backwardation” incorrect. It’s when the front month SIFO’s are greater than rear month SIFO’s. Not when they go below zero.

James Turk had a great article: More on backwardation. Checking the LBMA silver forward rates showed silver has been in backwardation not only since since December 8th (and counting), but also 3 months forward. Gold was just in backwardatinon 3 days and 2 months forward.

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