by Craig Hemke
Just like two weeks ago, premiums are expanding again between the spot price for gold and the front month futures price. It was generally accepted two weeks ago that this was a signal of physical tightness that was soon to be resolved, because the gold was simply “in the wrong place”. By this logic, it must still be.
Let’s start with the basics so that we’re all on the same page.
There is the spot price. This is recognized at the XAU/USD, and you’ll see this price quoted at most bullion dealer websites.