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Originally posted by Rockpuck
It wouldn't come crashing down... it would shoot through the roof.
Gold Market Reaching The Breaking Point
by Eric deCarbonnel
If a sufficient number of market participants become concerned about this (which is happening) and there is a stampede to take delivery of physical bullion, the entire gold market will come crashing down, taking most of the global financial system with it.
Originally posted by Crakeur
your source is a site selling gold? your story is one claiming a sudden urgency to buy gold.
A Note on Advertising
As I am pretty much devoting my full attention towards maintaining this site and covering the financial crisis, donations and advertising revenue are my primary sources of income right now. Currently, there are three sources of ad revenue for the site.
The first form of advertising revenue comes from Google ads. These display contextual ads based on the content of the page they appear on. Although I have little control over what shows up, I do try to filter out inappropriate ads when I see them (chnlove.com, match.com, etc…).
The second form of advertising comes from the eBay banner to the right. I particularly like this banner as I find it useful to see where the eBay price gold is trading. EBay isn’t the cheapest place to buy gold, but it does offer two advantages: you can pay with a credit card and your gold is shipped right away. Just make sure you buy gold from a seller with a lot of positive feedback.
The third form of advertising revenue comes from Amazon.com. If you click on the Amazon banner located at the bottom of the right sidebar, and do some shopping there, a 4-8% commission will flow back to MarketSkeptics.com, helping to support the site.
Originally posted by OBE1
Sometimes referred to as negative basis..or..positive basis , backwardation and contango are common market terms that define the state of the futures curve in all commodities....not just Gold.
Originally posted by truthquest
While I understand most lingo in the world of finance I do not understand what "backwardization" is.
Well take a look at something new, at least for me, in Monday’s comex preliminary volume and open interest report. On page 3 of the attachment, notice that in addition to futures contracts listed under the EFP category, a new category is listed: “Delivery Cash Settled” = 2866 december gold contracts. Just so happens 2866 was exactly the number of delivery notices issued on FND as reported in the Nov 27 vol and op int report.
Conclusion: guess you can no longer get bullion via using comex contracts. This apparently is the next step in the evolution of gold trading.