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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: Stefan who wrote (86682)3/5/2013 9:12:31 AM
From: Horgad  Read Replies (1) of 119362
 
I am not a fan of Keisier. I wish that he just would have shut-up and let Antal speak, but still was a good listen. Antal basically said

1. That the difference between the cash-gold price and the price of nearest future (what is displayed on Kitco) is a much better indicator of economic disturbance than the gold price itself. But unfortunately the cash price is very difficult to obtain (basically you must call a bullion bank and convince them you are a serious buyer that wants to place am immediate large order).

2. That there is big demand for physical gold right now

3. That some people might be fleeing paper gold and moving into physical which would cause the futures price to drop and the cash price to go up.

4. That the governments recognize that cash-gold going into a permanent backwardation with future gold is a huge risk and must be avoided. (ME: Presumedly because it would lead to an abandonment of the gold futures and thus the ability to manipulate the gold price.) ME: Ironically, their weapon to stop backwardation is to force the future price down and to try and reduce physical demand. ME: So they force it towards backwardation in an effort to stop it.
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