Gold's Steep Contango Implications for Everything

Bloomberg Intelligence

[Edit-see our note on this at bottom.]

Back to Futures - Steep Gold Contango Implications

What Might Gold Contango Mean? Lower Commodities, Recession

Authored by Bloomberg Intelligence

(Bloomberg Intelligence) -- December 2024 gold futures, at about $2,080 an ounce on Nov. 14, may be higher in a year, while WTI crude oil contracts for the same month of about $75 a barrel might be lower. A rising metal's price vs. declining crude remains our bias. Steep gold contango is not a price prediction, but reflects higher rates for longer, the effects of which may be in early days. (11/15/23)