Without knowing it, Aurum Maximus (https://glintpay.com/special-reports/atlas-pulse-gold-report-december-2019/) has sent me on another rabbit hole. A concept I had glanced over.. but now am ready to deep dive and see if added value can help us see a better weight of evidence. The recent peak when gold hit 1560, we had to pay a hefty premium over spot for the next futures contract… ahh If only I would of known!

Could you also believe gold was selling at a discount during the bear market (backwardation)? As the discount was slowly evaporating.. so were the prices of gold bottoming, refusing to go lower.

Edit: Important note… those are $ premiums or discounts…. So back in Jan 1980… that 26$ contango… percentage wise versus the 635$ spot … is HUGE (4%), compared to today’s 10$ premium over the 1500$ spot (less than 1%)