The Phaserl


Gold in backwardation for front months/GLD and SLV remain constant/Ukraine has risk rate at 20%

South Korea enters the fray with China/USA joins France with respect to its war in Central Africa

by Harvey Organ,

Good evening Ladies and Gentlemen:

Gold closed up $5.00 to $1235.30 (comex closing time ). Silver was up 17 cents at $19.64.

In the access market today at 5:15 pm tonight here are the final prices:

gold: $1240.20
silver: $19.80

First let us see how London set its GOFO rates this morning:

OH!!OH!! negativity or backwardation is upon us for the first two months:

GOFO numbers are now decreasing in the positive for all months
GOFO rates negative and thus in backwardation for the first two months and heading for backwardation in the 3 and 6 months as the Eastern nations ask for their gold in London and at the Comex:

Here are today’s readings with Friday’s comparison:

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