Loading ...Gold is in backwardation, signifying scarcity, Turk tells KWN
Submitted by cpowell on 05:43PM ET Monday, August 4, 2014. Section: Daily Dispatches
8:40p ET Monday, August 4, 2014
Dear Friend of GATA and Gold:
Gold in London is in backwardation for the first time since May — at least the first time since May for small orders, GoldMoney founder and GATA consultant James Turk tells King World News today. But, Turk adds, gold likely has been in backwardation for longer for large orders, with the market being supplied — and manipulated — by central banks affiliated with the United States.