David Mcalvany: UNPRECEDENTED BACKWARDATION in Precious Metals- China & India Want Physical NOW!

EmptyVaultDavid Mcalvany has released an excellent commentary on gold’s now 8 week old backwardation- and the obvious implications: China and India aren’t willing to wait 3, 6, or 9 months for physical metal, they want their gold NOW!
“It’s not uncommon to have backwardation in any market, but it usually happens a very MINOR amount, and only for a day or two. We’re now into our 8TH WEEK of backwardation, 2 full months. It’s not the degree to which we are in backwardation, but the duration which I think is very intriguing.”

 

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