MacroVoices #378 Ronnie Stoeferle: In Gold We Trust - Showdown
Macro Voices
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The Contango Dilemma in the Gold Futures Chart
The gold futures term structure is very relevant to the chart right now. Gold held that critical 100-day moving average support and turned back up quite sharply. The August contract is trading at a premium of almost $20 over the June contract. It makes the chart look like gold is already $40 higher than we're at bottom.
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