Gold futures curve

I've been looking at the Gold futures recently...

I see the front 2 months are generally lower than the spot and after that (July at the moment) they trade higher. So basically there is backwardation for the first 60 days and after that contango...

What's the reason for the first months to trade low? Is that because you don't want to be settled in physical gold?

 

On which exchange do you currently see backwardation for Gold futures?

 

Where do you get the current SPOT price from?

 

The gold forward curve is almost entirely interest-rate driven. "Nothing to see."

 

Indeed. From the CME standpoint, the only months that matter will be June, to August, to December.

July and October will not make a blip on the speculative radar. Physical traders may make use of them, but we low-lifes have to go with the flow.

 

I thought the London prices are auctions that occur twice a day. The rest of the day, they are not current. That might create what you see. I could be wrong, as I don't follow SPOT prices.

 

Ahh, I see. I don't know London spot stuff. I see the backwardation there though in your list.

 

I've got NYMEX for futures... but spot is London Gold... maybe that's why?

@truetype, instead of just blabbing something in here... you should at least try and explain GOFO and gold lease rates etcetc....

 

it does trade actively 24hrs... is there usually a difference in London spot and US?